Oh Nokia, oh Kodek, what happened? Put simply, they didn’t innovate. I remember a time when Blockbuster was the Netflix of the 20th Century and where are they now? Within the space of a decade, we have seen large companies dissipate into thin air. Let’s explore.
The internet struck!
This was a crucial turning point for many companies, and in the wake of this new era left many companies reeling back in astonishment and regret. Yes, I am talking about HMV, Toy R Us, and Blockbuster. They never stood a chance. Due to the unwillingness to innovate and embrace new technology they ultimately failed as a result.
Digital Revolution
Speed, quality and, pricing is now what dominates the consumer markets. With the rise of technology so has the barrier for expectations. Companies are struggling to get to market fast enough, cheap enough (retail wise), and maintain high-quality standards. Xiaomi Technology is a great example of high-quality products at low prices and has amassed a $54bn IPO just 4 years old.
How will corporates compete? Who will embrace this new era? And who will ultimately fall into the pit which is home to so many previously dominate brands?
Written by: F. Bravey
CHINA:
