The future of Nokia should be microfinance

Having been the dominant mobile phone handset maker for a long time, Nokia is now on a slippery slide down from the top.  In developing markets, Nokia is still doing well, but is increasingly challenged by low cost Chinese manufacturers.

I took the screenshot from the Nokia website showing the history of the company.  They have changed businesses in the past and I think it’s time for them to change businesses again.  The battle for high end mobile phones is over for now, with Apple and Google squarly in the lead and not looking like slipping any time soon.

So, if I were in charge at Nokia, I’d focus on the intersection of microfinance and mobile phones.  Leave Apple and Google to battle it out for the smartphone market for now, wait for the dust to settle.  Meanwhile, aggressively expand business and expertise in low and lower-middle income countries where microfinance and mobile payments and banking has huge potential