In 1 963, starts developing radio telephones for the army and emergency services. Ionians first foray into telecommunications. And by 1 987, Monika is the third largest TV manufacturer in Europe. The Mobile Era C] Monika sets the ball rolling in 1979, creating radio telephone company Mobile Ay as a joint venture with leading Finnish TV maker Solar CLC Then in 1981, the Nordic Mobile Telephone (NET) service, the world’s first international cellular network and the first to allow international roaming , is launched. C] In 1984, Monika launches the Mobile Talisman portable car phone.Resembling a military field telephone, it’s a fairly cumbersome piece of Kit-but it’s a start In 1987, GSM (Global System for Mobile communications) is adopted as the European standard for digital mobile technology.
With its high-quality voice calls, international roaming and support for text messages, GSM ignites a global mobile revolution. Monika in New Age In 1 992, Monika launches its first digital handheld GSM phone, the Monika 1011. In 1 994, Monika launches the 2100 series, the first phones to feature the Monika Tune Remington.The Monika 21 00 series goes on to sell 20 lion phones worldwide. Ionians target was only 400,000 By 1 998, Monika is the word leader in Mobile phones.
Between 1996-2001, Monika turn-over increases almost fivefold from ERR 6. 5 billion to ERR 31 billion Monika- The leader in mobile technology In 1999, Monika launches the Monika 7110, a phone cap able of rudimentary web-based functions, including email. Then in November 2001 Monika launches its first phone with a built- in camera, the Monika 7650, and in September 2002 its first video capture phone, the Monika 3650.C] In 2002 Monika 6650 is launched with the g technology. C] In 2005, Monika sold its billionth phone -a Monika 1 100 – in Nigeria, and global mobile phone subscriptions passed 2 billion.
Two years later, Monika is recognized as the 5th most valued brand in the world. Sales from 2010-2012 SO Market Share 20102012 What went well? What went wrong? Competition C] While it was not totally unexpected, what caught Monika off- guard is the rate at which competitors where innovating new CLC Since the launch of the phone/Android phones, Monika failed to keep up with the industry.While other kept proceeding ahead aggressively by ‘hook or crook If analyzed through the Technology Lens, Monika primarily failed to in novae attractive technology and features.
For example, though Monika had touchstones phones, it did not attract customers as much as compared to Apple phones. The software being developed were using old development models and newer concepts such as User Experience and User Interface were being neglected. Monika was clinging onto Simian SO for too long.It had reached its peak. Changes? Time for Change? C] With the company facing fierce competition, Monika started reporting financial losses and started loosing grip on the market. C] Loll-Peak Koalas, as President and CEO, saw the company’s rise to become the world ‘s preeminent mobile brand ? but was also at the helm as Monika fell distantly behind a new wave Of competition. L] He was seen off by the management and he was succeeded by Stephen Elope on September 21, 2010.
Human resources?Market share fell drastically from 45% to 34% in 201 1 Monika posted a loss of 368 million euros for IQ 2011 As per Stephen Elopes initial memo, which leaked to the press, the company was on a ‘burning platform’. This was a reference to the Simian SO the company had been using for so long. This was regarded as very discouraging and one of the most damaging memo in Corporate governance.
Although Elope tried his best, the company saw its worst days. Redrafting Strategies? In 2011, Monika joined forces with Microsoft to strengthen its position in the smartened market.The strategic partnership saw Monika dump Simian SO and adopt the Windows Phone operating system and establish an alternative ecosystem to rivals sis and Android. But it was too late. Under the leadership of the Stephen Elope, Monika decided to stick to only and only Windows SO while Android was a free alternative. Monika launched Windows Phones series dubbed as the Monika Alumina. Fast-forward to 2013, Monika has a full portfolio of great Windows Phone 8 smartness, from a 520 through the redrawing Alumina 920 and the ground-breaking Alumina 1 020, which enables photography never seen before in a smartened.In September 201 3, Monika announces that it has entered into an agreement with Microsoft whereby Microsoft would purchase substantially all Devices & Services, the Monika business which makes mobile phones and smartness.
Stephen Elope facilitated this deal and his role in t has been questionable. Though Monika is now reporting profits, it had lost its glory in the market it once dominated simplemindedly. What did Stephen Elope do wrong? Inspecting with the organization and human performance lens. Wrong decisions.While the entire smartened SO industry was evolving manufacturers moved on and adopted various operating systems like Android, Windows, Bad, Omega, et cetera, Monika decided to stick to Windows SO only.
As Android and sis became more popular, Monika and its windows phones failed to attract any attention. Though the new tech analogies developed by Monika were ground breaking, they were not promising enough. Rest Its During the 3 years Elope was Monika CEO, Monika revenues fell 40%, Monika profits fell 95%, Monika market share collapsed in smartness from 34% to 3. % Ionians credit rating went from MA to junk, Ionians share price dropped 60% in value and Ionians market capitalization lost a minimum of $13 Billion in value.
The Financial Times calculated that Monika shareholders ended up paying Elope a bonus of 1 million Euros for every 1. 5 Billion in market capital that Elope was able to destroy while Monika CEO Rumor about Elope Stephen Elope was working with Microsoft’s Business Division before moving to Monika. He was the first non-Finnish CEO of Monika and it is argued that Stephen was sent with the sole purpose of devaluation Monika as to make it easier and cheaper for Microsoft to buy it.Microsoft being a software giant always had ambitions to acquire a hardware sector firm and as Monika dipped to the bottom, Microsoft announced that it had bought Monika for $7. 2 Billion. While all this happened, Stephen comes back to Microsoft as UP of Microsoft’s Devices & Services business unit and gets a signing bonus of 25 Million Conclusion From Technology perspective, Monika did not deliver as per expectations based on previous performance From the Strategy perspective, though Monika did eventually come up with nice lucrative products, it lost in the race against time due to poor strategies and sly competition.