RE:RE:RE:Repeated mistakes are not "mistakes"I have a Nokia story too. When I was at Templeton I visited with Nokia management in Finland. At the time they had transitioned from making tires to TV's. Seemed to me to be a strange corporate transition and I thought they had little chance of beating the Asian competition in TV's. I was probably there about a year before they got into cell phones, unfortunately. But I did end up buying it when the cell phone business got going and made good money on it. I am still amazed they had the guts to move from tires, to TV's to cell phones and made it work - at least for several years.
scarlet1967 wrote: Here we go with one of my stories, back in the day I was invested both in Nokia and Ericsson both at the time mostly in the business of making cellphones and both initially had similar market share in the industry.
Both companies had a major manufacturing problem in one of their sites, the CEO of Nokia flew on the same day and managed to rectify the issue within 24 hours but the CEO of the Ericsson decided to deal with the issue remotely as a result the site experienced major setback for a couple weeks. Nokia in the next couple years became one of the biggest cell phone maker in the world while Ericsson eventually gave up the hardware side of business and moved on to the software side with less demand and revenues at that time.
Point is being proactive is a must for successful companies, the company surely knew the market reaction to the deal will be negative so they should line up few strategic measures as a damage control and having your IP down for more than a week is not one of them.