Nokia drops from the 5th largest brand in the world to the 8th; loses 15% of their value

You’ve got to love the latest blog post from Nokia Conversations, Nokia’s official blog, that proudly boasts that the Nokia brand is one of the 10 most important brands in the world. That statement is true, and it should be applauded, but in 2009 Nokia was number 5. Today they’re number 8, and over the course of a single year managed to lose 15% of their brand value. The only other brand in the top 10 list that lost value was General Electric with a 10% loss. If you expand that range to include the top 20 brands, then the only other company that lost value was Toyota.

Something is up in Finland, and it’s why this week Stephen Elop [pictured above] starts his new job today as the first non-Finnish CEO of Nokia in over 140 years. A former Microsoft man, and before that Macromedia, he’ll be responsible for leading one of Europe’s biggest success stories from the difficult transition of a hardware vendor whose goal was to pump out the most boxes it can per quarter, to a software company who can build customer retention by making user experiences that people actually enjoy versus being frustrated using.

Peter Skillman, one of the guys who created the user interface of Palm’s webOS, and then jumped ship after the company was bought by HP, is joining Nokia as the Head of MeeGo User Experience and hopefully he’ll do something to earn the company some respect in the high end again. It’s going to be an uphill battle, and CNN says it best: “Nokia: No. 1 and fighting for life

How long do you think it’ll take for the company to turn around? I’m going to say 4 years, with Samsung taking the title of leading handset manufacturer in the process. It’s a brutal prediction, but there was once a time, in the 80s and early 90s, when Nokia was still making televisions, cables, and computers, that they almost went out of business.

  • abdul

    When it comes to Nokia, this writer is the glass half empty guy. It’s really entertaining seeing how he tries to extract negativity out of anything related to Nokia.

    Isn’t it unethical to bash a company you used to work for in blogs because they fired you?

  • Earl

    Abdul do you actually know whats happening in the world of tech android and windows 7 are the future right now every one has bailed out on symbian and nokia is still using it another thing tell me how many capacitive touch screen phones is nokia making not a single one and I’ve tried meego it sucks and it wont have enough apps

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