Nokia’s CEO once said: “We didn’t do anything wrong, but somehow we lost.”
Nokia. Its biggest mistake was trying to avoid mistakes.
For a long time, Nokia was the world’s leading mobile phone manufacturer—until Apple, Samsung, and the rest of the world shifted to smartphones.
Nokia’s strategy was to stay the course and avoid risks. They didn’t want to change or take bold steps. In the end, their attempt to avoid mistakes by resisting change cost them everything.
Edit (expanded point):
In particular, their stubborn refusal to adopt Android and their insistence on sticking with their Symbian operating system proved to be critical errors. Over time, Symbian failed to keep up with competitors, and this resistance to change ultimately led to Nokia’s decline.