Bloomberg shows us how the invention of the iPhone nearly bankrupted the entire country of Finland.
It’s all to do with Finnish mobile manufacturer Nokia. Anyone born before the era of the smartphone will remember just how popular their iconic brick phones were. They accounted for nearly half of all phones worldwide, which poured millions into Finland’s economy and generous welfare programmes. Those profits allowed the Nordic country to flourish and make a name for itself on the world stage.
Then, Steve Jobs released the revolutionary iPhone. It blew the competition out of the water and flipped the mobile industry on its head. Nokia struggled to compete and eventually were bought out by Microsoft. But that wasn’t the end of the story for the country. Bloomberg shows us how the Finnish bounced back and have found new and innovative ways to fuel their economy. Using the same inventive sprit, they’re now leading the pack on tech and are dominating the mobile gaming market. Find out how smart thinking brought them back from the brink once again.
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