The following video is part of our "Motley Fool Conversations" series in which technology and media editor/analyst Andrew Tonner discusses topics across the investing world.
The long slide of the Finnish cellphone maker has been well-documented. As the smartphone revolution began, Nokia opted to double down on its existing business, eventually rising to become the world's largest handset maker. How's that worked out? As everyone should have guessed, Nokia chose poorly. Last week was a painful reminder of Nokia's strategy blunder with shares posting a 16% drop in a single day as the company announced that its quarterly performance will likely come in softer than expected and that it plans to lay off 10,000 workers. And despite this, the company has made serious strides in the last 12 months to once again move toward greener pastures. Can Nokia survive and eventually thrive in one of tech's greatest growth markets? Listen on to find out.
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Andrew Tonner has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple and Google. Motley Fool newsletter services recommend Apple, Google, and Nokia. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.