Nokia – Business Week

Nokia’s Next Act is a story on how the company is responding to the challenges: “The mobile industry is in the midst of an historic transition driven by financial crisis and fast-changing technology. Cell-phone ownership is approaching saturation levels in the developed world. The wireless Web was supposed to spur demand for pricey new computerlike handsets capable of handling everything from real-time stock quotes to videoconferencing. But the introduction of so-called third-generation wireless services is running behind schedule. What’s more, financially strapped carriers are rolling back the generous subsidies that made it possible for new customers to take home $200 phones for $10. No wonder handset manufacturers lost money overall last year and should show only a modest profit in 2002.”

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Rajesh Jain

An Entrepreneur based in Mumbai, India.