21/05/2026
𝐃𝐢𝐝 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 𝐍𝐨𝐤𝐢𝐚 𝐦𝐚𝐝𝐞 𝐭𝐨𝐢𝐥𝐞𝐭 𝐩𝐚𝐩𝐞𝐫 𝐛𝐞𝐟𝐨𝐫𝐞 𝐬𝐦𝐚𝐫𝐭𝐩𝐡𝐨𝐧𝐞𝐬?
Fredrik Idestam opened a paper mill in Finland, producing paper and cardboard.
For decades, Nokia stayed in paper, pulp, and forestry.
Then they started experimenting:
1898: Added rubber boots and tires
1960s: Entered electronics (cables, TVs)
1970s: Started making radio phones
1980s: Nokia's rubber and paper divisions were struggling. The company was losing money.
CEO Jorma Ollila made a radical decision in 1992: sell everything except mobile phones.
They exited paper. Sold the tire business. Abandoned TVs and cables. All in on mobile.
𝟏𝟗𝟗𝟖: 𝐍𝐨𝐤𝐢𝐚 𝐛𝐞𝐜𝐚𝐦𝐞 𝐭𝐡𝐞 𝐰𝐨𝐫𝐥𝐝'𝐬 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐦𝐨𝐛𝐢𝐥𝐞 𝐩𝐡𝐨𝐧𝐞 𝐦𝐚𝐤𝐞𝐫.
2000s: Peak Nokia, 40% global market share.
2007: iPhone launched. Nokia refused to adapt.
2013: Microsoft bought Nokia's phone business for $7.2 billion (it flopped).
Today: Nokia exists in telecom infrastructure, not phones.
𝐓𝐡𝐞 𝐥𝐞𝐬𝐬𝐨𝐧?
Reinvention can save you. But you also have to keep reinventing.
Nokia pivoted brilliantly from paper to phones, but failed to pivot again when smartphones emerged.
Stay adaptable. Always.
Is your business ready for its next evolution?