Finland-headquartered Nokia was a global telecommunications equipment maker. It managed a luxury mobile phone brand called Vertu, founded by Frank Nuovo in the late 1990s, by using valuable materials like diamonds, sapphires, titanium and exotic leather for phone generation which initiated the luxury cell phone marketplace. The company sold hundreds of thousands of cellphones in the eight years following its start, and experienced notable growth in nearly 70 countries.
On February 11, 2011, Stephen Elop, the new CEO who'd been at the helm at Nokia for only five months, announced a new mobile strategy to embrace Microsoft's new but unproven Windows Phone as its main smartphone operating system. The market responded poorly, along with the company's share price took a 14 per cent drop on the day of statement. Should Vertu respond to this new Nokia mobile strategy? Should this UK-based wholly owned subsidiary continue to be managed at arm's length from Nokia and be left alone? Changes to Vertu were inescapable-it was not a matter of if.
Vertu Nokia's Luxury Mobile Phone for the Urban Rich Case Study Solution
PUBLICATION DATE: September 28, 2011 PRODUCT #: W11208-HCB-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
Related Case Solutions & Analyses:
Slowing the Adoption and Diffusion Process to Enhance Brand Repositioning: The Consumer Driven Repositioning of Dunlop Volley
What Is Marketing
British Airways: Go for It America Promotion (A)
Intuit QuickBooks: From Product to Platform
Artecola: Building a Global Brazilian Multinational from Rio Grande do Sul
The Slingshot: Improving Water Access
Harrah’s Entertainment, Inc
Inkaterra
Germania Fluggesellschaft mbH (B)
Advanced Drug Delivery Systems: Alza and Ciba-Geigy (A)
