Introduction of the new Nokia Lumia Product Essay

Introduction of the new Nokia Lumia Product - Essay Example product development is crucial to survive in the global competitive environment especially when it comes to technology such as gadgets, mobile phones, tabs and other electronic devices. In the era of globalisation it becomes crucial for organisation to innovate new product to keep up with the competition in the global environment and secure a better market place. Timely and responsive new products have become more critical in the global environment and there arise the need to response quickly to the changing dynamics of global forces (Yelkur & Herbig, 1996, p. 38). Methodology Research methodology includes two forms of research, primary research and secondary research. Primary researches are conducted based on questionnaires, interviews and can be both qualitative analysis and quantitative analysis. Secondary research is based on data which were already found and an analysis is made on the existing data. The methodology used to analyse the product introduced by Nokia, Nokia Lumia 820 and 920 in collaboration with Microsoft operating system are done mainly through secondary research. Data are collected from sources such as web, books, news and other relevant sources and are further analysed. Analysis and findings of Nokia and Microsoft are also based on SWOT analysis. Findings and Analysis According to IDC press release the global mobile phone market grew by 1% in the second quarter of 2012 where Apple and Samsung shipped half of the global Smartphone. With respect to the Operating System, Android has expanded its dominance in the global Smartphone market and accounted for 68% of the total Smartphone shipped in second quarter in 2012. According to findings, success of Android can be traced to Samsung accounting for 44%, iOS posted growth with double digit and remains at... This essay stresses that Nokia currently has been suffering from a major decline in market share leading to major loss for the company. Symbia which was the OS for Nokia did not help the company to generate enough revenue and as a result the company has partnered with Microsoft regarded as an opportunity for the company to increase its market share and profits. Nokia was facing a tough challenge from OS like Android, iOS due to the lack of innovation made by Nokia and also its slow response to match up the international market demands. Thus the advantage of pairing Nokia with Microsoft will be beneficial for both as within six months of the launch of Lumia Nokia from zero percentage went up to a third of the overall windows phone devices in the US. Nokia which was once the market leader in the mobile category had recently suffered a setback in the smart phone category and is trying to catch up with Apple and Samsung. This paper makes a conclusion that the management decision to partner with Microsoft has resulted to be beneficial for Nokia as the growth rate has increased within the six months of its launch of Nokia Lumia 820 and 920. In the competitive mobile Smartphone market, Nokia was lagging behind the market leaders Samsung and Apple and had suffered huge loss. Now entering into partnership with Microsoft it hope to regain back its lost market share and introduce new range of products with exciting features.