In 2013, Nokia was crumbling. They got crushed by Apple. Sales...
Alex Penunuri@penunurialex
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Feb 14, 2025
~3 min read
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In 2013, Nokia was crumbling.
They got crushed by Apple. Sales plummeted. Bankruptcy seemed inevitable.
Until they made ONE bold move that transformed Nokia into a $24B a year cash cow.
Here’s the fascinating story of Nokia’s comeback 🧵
They got crushed by Apple. Sales plummeted. Bankruptcy seemed inevitable.
Until they made ONE bold move that transformed Nokia into a $24B a year cash cow.
Here’s the fascinating story of Nokia’s comeback 🧵
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2010: Nokia was falling apart.
While Apple became the biggest company in the world, Nokia was stuck in the past.
They couldn’t adapt to the smartphone era. Their phones became outdated.
But it got even worse…
While Apple became the biggest company in the world, Nokia was stuck in the past.
They couldn’t adapt to the smartphone era. Their phones became outdated.
But it got even worse…
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They built an operating system that couldn’t compete with iOS & Android.
Their “comeback” smartphone) flopped hard.
In 2011, they hit their first loss in over a decade.
Bankruptcy was right around the corner.
But suddenly, everything changed…
Their “comeback” smartphone) flopped hard.
In 2011, they hit their first loss in over a decade.
Bankruptcy was right around the corner.
But suddenly, everything changed…
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2014: Rajeev Suri became CEO.
He didn’t waste time dreaming about reclaiming the mobile crown.
Instead, he asked a simple question:
“What does Nokia do better than anyone else?”
His answer led to a bold decision…
He didn’t waste time dreaming about reclaiming the mobile crown.
Instead, he asked a simple question:
“What does Nokia do better than anyone else?”
His answer led to a bold decision…
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Nokia stopped focusing on selling phones to consumers.
Instead, they set their sights on a new market: Businesses.
It was a huge risk. Nokia was “the phone brand”.
Now they were stepping away from their legacy.
But Suri saw what no one else did…
Instead, they set their sights on a new market: Businesses.
It was a huge risk. Nokia was “the phone brand”.
Now they were stepping away from their legacy.
But Suri saw what no one else did…
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Introducing: The 5G Revolution
Suri knew 5G was the future and he wanted Nokia to become the backbone of it.
The problem?
5G wasn’t ready at the time. And every big player was chasing it.
So Nokia had to act quickly…
Suri knew 5G was the future and he wanted Nokia to become the backbone of it.
The problem?
5G wasn’t ready at the time. And every big player was chasing it.
So Nokia had to act quickly…
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Competing against big rivals meant Nokia had to move fast.
So Suri changed how they operated:
Cut unnecessary costs
Poured money into innovation
Simplified decision-making processes
But there was still one missing piece…
So Suri changed how they operated:
Cut unnecessary costs
Poured money into innovation
Simplified decision-making processes
But there was still one missing piece…
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Nokia’s failure to adapt nearly bankrupted them.
They didn’t want to make the same mistake twice.
In 2015, they acquired Alcatel-Lucent for $16.6B - a research giant.
This deal gave Nokia access to 29,000 patents & decades of innovation.
Nokia was back in the game…
They didn’t want to make the same mistake twice.
In 2015, they acquired Alcatel-Lucent for $16.6B - a research giant.
This deal gave Nokia access to 29,000 patents & decades of innovation.
Nokia was back in the game…
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In 2018, Nokia launched ReefShark.
It was the smallest, fastest, and most efficient 5G chip on the market.
Nokia was sending a message to its competitors:
They weren’t here to participate. They were here to win.
And it was just the start…
It was the smallest, fastest, and most efficient 5G chip on the market.
Nokia was sending a message to its competitors:
They weren’t here to participate. They were here to win.
And it was just the start…
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Nokia made sure the world knew about its comeback.
They launched marketing campaigns with a simple idea:
“5G is the key to a better, more connected world.”
Nokia was selling a future.
And they cast themselves as the architects of this future.
They launched marketing campaigns with a simple idea:
“5G is the key to a better, more connected world.”
Nokia was selling a future.
And they cast themselves as the architects of this future.
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Nokia knew technology wasn’t enough.
They need partnerships.
They reached out to telecom giants to roll out 5G globally.
By 2024, Nokia had signed over 300 5G agreements.
The result?
They need partnerships.
They reached out to telecom giants to roll out 5G globally.
By 2024, Nokia had signed over 300 5G agreements.
The result?
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In 2022, Nokia’s annual revenue exceeded $20B and claimed 29% of the global 5G market outside China.
It happened because they let go of the past.
They found where they could offer the most value and and made sure the world knew it.
This is a masterclass in business...
It happened because they let go of the past.
They found where they could offer the most value and and made sure the world knew it.
This is a masterclass in business...
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If you’ve got a good product that provides value to your customers:
Don’t just say quiet. Relentlessly promote it.
The more people who know what you do, the more business you’ll have.
And there’s a simple & easy way to do so right here on X...
Don’t just say quiet. Relentlessly promote it.
The more people who know what you do, the more business you’ll have.
And there’s a simple & easy way to do so right here on X...
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To begin:
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Many people I work with are making 5, 6 figures/mo.
Just by DMing strangers about their offers.
To begin:
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Not any random leads.
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But highly targeted, qualified prospects for your business.
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Enjoy!
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Thanks for reading!
If you enjoy this thread and want to learn more about Twitter Cold DMs:
Drop me a follow at @penunurialex
Appreciate all the support.
If you enjoy this thread and want to learn more about Twitter Cold DMs:
Drop me a follow at @penunurialex
Appreciate all the support.
