News Topic: Top 10 According to an analysis article published on the eWeek website, Nokia is in trouble. Nokia has seen a decline in mobile phone shipments, profit evaporation, and a slow decline in market position. Is there anything that can save Nokia? Here is the full article: Will bad news about Nokia come soon? Nokia recently announced that due to competition in the mobile field, first-quarter sales declined, resulting in its worst quarterly financial report to date. In the first quarter, Nokia lost $1.2 billion. Shareholders were shocked by Nokia's significant profit drop and sold off Nokia's stock. As expected, the harsh first quarter and Nokia's acknowledgment that it needs to take action quickly to address many issues are making most people think that nothing can repair this once-dominant mobile phone company. Detractors say that with Apple and Google's Android devouring its market share, all Nokia can do is accept the fate of a dying phone company. However, perhaps now is not the time for Nokia to wave the white flag. Nokia is indeed facing serious problems. The chances of turning things around are slim. However, if Nokia executes the right strategy, it still has hope. Below are 10 ways to save Nokia from the mobile market quagmire: 1. Quickly sell to Microsoft The first thing Nokia should consider is selling itself to Microsoft. Microsoft is seeking control over some major manufacturers, and which company could be better than cooperating with Nokia? Moreover, Nokia has some highly valuable patents that Microsoft might like. In this regard, Nokia either sells itself to Microsoft or is very likely to face bankruptcy. 2. Change the top management Although Nokia introduced Stephen Elop in hope that he would change the company culture and turn things around, Elop obviously cannot do this now. Considering that Nokia is on a downward spiral, the Nokia board should fire Elop and find a radical-minded successor. At present, this may be the only thing that can save Nokia. 3. Focus on international markets When will Nokia finally admit that it cannot win in the North American and Western European markets and should focus on emerging markets internationally? These regions may need Symbian devices and other low-priced Nokia products.This could become part of an overall strategy to give Nokia an opportunity to turn things around.\
4. Remember Price\
Although Nokia's Lumia phone lineup has never been very successful, it is important to point out that Nokia's Lumia 900 has done very well by offering high-quality performance at the price of $99. Perhaps Nokia should consider a few things. Today, price and value ratio are the main concerns for consumers and business users. Without the right balance, Nokia will not succeed. The Lumia 900 might just be the template that future Nokia phones should follow.\
5. Become a Smaller and More Agile Company\
Looking at Nokia's corporate structure can give anyone a headache. Nokia is very large, with 134,000 employees worldwide, and has far too many operational segments to make sense of. Unfortunately, now is the time for Nokia to significantly reduce its workforce and become a more agile company. By doing so, Nokia may stop losses and become a more profitable company.\
6. Become a Low-Cost Product Supplier\
Beyond the earlier price and value points, Nokia should consider becoming a low-cost product supplier, selling only phones that those who cannot afford an iPhone can easily buy. This strategy, focused on the international market, will yield good returns and help Nokia slowly but steadily increase its market share.\
7. Focus More on Software\
People often forget that Nokia has a relatively strong software development team, which has developed high-quality products in the past. This will not directly solve Nokia's problems, but perhaps Nokia should invest more in software and try to find a strong platform capable of fixing gaps in its business model.\
8. Leverage Patents\
If Nokia has anything to leverage, it is certainly its extensive patent portfolio. From mobile technology to design ideas, Nokia has a large number of patents that many companies, including Apple, Microsoft, and RIM, are interested in acquiring. Nokia should consider selling or licensing these patents as soon as possible.\
9. Remember Non-Phone Industry Standards\
Although smartphones may be Nokia's primary focus, Nokia has many opportunities to succeed in other less glamorous areas throughout the industry.For example, Nokia is taking a smart move to compete with Apple for the new Nano-SIM card industry standard. Nokia should look for other new areas across the mobile field where it can become a key player setting industry standards.
10. Maintain radio silence (and financial silence)
Looking ahead, Nokia needs to stop talking. Considering that Nokia must publish financial reports as required by law, aside from that, Nokia needs to stop telling the world about its troubles and remain as silent as possible. At the same time, Nokia should consider exiting the securities market to go private. In this way, Nokia would not need to report losses. All this negative news makes consumers question whether they should buy Nokia products or turn to other products. This negative news also makes people doubt how long Nokia can continue to exist. Now, for Nokia, beset by bad news, silence is a blessing.
