How Nokia Became A Global Brand

Amazingly, of all modern mobile phones, Nokia has one of the most modest of beginnings. Nokia was founded by Fredrik Idestam. Between 1968 and 1991, the newly formed Nokia Corporation was well positioned for a pioneering role in the early evolution of mobile communications.
In 1992, Nokia appointed Jorma Ollila as its new President and CEO. Prior to joining Nokia, Ollila spent eight years in corporate banking at Citibank. He had master’s degrees in engineering, economics and politics. Ollila’s task was clearly cut out: to rebrand Nokia so as to position it as a global force to reckon with. He restored calmness and sanity to Nokia, which hitherto had been characterized by a period of internal fighting and financial difficulties. The previous CEO, Kari Kairamo, had committed suicide following a prolonged bout of manic depression. Ollila introduced significant innovations in Nokia brand.
In 1992, Nokia launched its first GSM handset, the Nokia 1011.
In 1994, Nokia launched the first phone to feature the Nokia Tuner, and the world’s first satellite call was made, using a Nokia GSM handset.
In 1996, just six years following Ollila’s appointment and subsequent strategic decision, Nokia was leading the world in mobile phones, selling more than any other company and winning praise in the global business press.
Today, Nokia remains a globally acclaimed brand in the world of telecommunication.
The major lesson to be learnt from the Nokia’s phenomenally successful story is that, in the appointments of CEOs and Managing Directors, companies must spare no efforts in the recruitment process and go for the best hands. This is amply demonstrated in Jorma Ollila’s dramatic transformation of Nokia from a run-of-the-mill brand to a globally acclaimed brand.
Dr Olusola Oso
Founder/CEO, PENDROF.