For years now, Nokia's been a safe company to bet on. They control more of both the cell phone and smartphone market than anybody, and their sales totals worldwide are beyond even the most fevered dreams of a company like Apple. And yet, despite that, Nokia is stumbling and falling while Apple's working on developing a good swagger.
In 2005 62% of the smartphones on the market were Nokia. Today, only 41% are. That's still a commanding lead (RIM, the second closest manufacturer, has a paltry 20% or so) but that's also a 22% drop in four years. Some of that is understandable. Smartphones were comparatively uncommon devices four years ago, things that only rich hipsters had the spare scratch to afford. Now smartphones are everywhere, and a whole bunch of new company's have thrown their hats into the ring and tried to make them.
So the fact that Nokia's lost ground in the face of all this new excitement is hardly surprising, but that won't stop their stockholders from eating them alive at the news of a 6.1 billion euro loss in market value this Friday. Analysts attribute the loss to Nokia's lack of an app store.
It's kind of amazing to think that an idea introduced just a year ago has already grown to be absolutely crucial to success in the smartphone market. This fact could stand Google in truly great stead if it turns out that they were right about browser-based apps being the future. That could land Apple in the same spot Nokia's in right now.
Don't Miss: Nintendo Switch: Everything You Need To Know
So the question now is; can Nokia pull themselves up out of this hole? I believe the answer is yes. They didn't get where they are by being stupid, and they still have a commanding position over the market. Nokia is already at work building their own Symbian app store, and there's also been talk that they are looking at buying Palm. Whether the Pre-manufacturer would sell is unknown, but an acquisition like that would put Nokia right back into the game, and give the Pre series the backing it needs to really soar.