The financial features of NOKIA contain the most important changes in the financial data. It shows a rise in sales size and in the sales of services both on calendar year on year and sequentially basis. As the financial data show only the ¼ of the total mobile device amount is included in the converged mobile devices, which means these are just entering your competition of the Smartphone's, however the increase was significant. Furthermore, the web sales of services are greater than these devices sales amount, which ensures their business strategy. To produce winning device and also to have a technical creativity by offering wireless services (global roaming). Overall, the stakeholders of Nokia should be satisfied, because Nokia made an increase, despite of the financial creases after-effects.
LG
According to LG. com LG reported sales of KRW 14. 4 trillion (USD 12. 4 billion) and working income of KRW 126 billion (USD 108 million) in the next quarter of 2010. In Korean earned, consolidated sales dropped 0. 7 percent (up 10 % in USD) and online profit declined by 33 percent (down 26 percent in USD) year-over-year.
International, Corporate and Business Strategy
Corporate Strategy - can be involved with the entire purpose and opportunity of the business enterprise to meet stakeholder expectations. This is an essential level since it is seriously influenced by buyers available and acts to steer tactical decision-making throughout the business. Corporate and business strategy is often explained explicitly in a "mission statement".
Business Strategy - "Strategy is the way and scope associated with an organisation above the long-term: which achieves benefit for the organisation through its construction of resources within the challenging environment, to meet up with the needs of market segments and also to fulfil stakeholder targets"
International Strategy "An international strategy is a strategy by which the firm provides its goods or services outside its domestic market"
Nokia
Business Strategy - Matching to Nokia. com their business strategy is to strengthen their position as a leading communications systems and products company. Their strategic intent, as the reliable brand, is to create personalised communication technology that permits people to shape their own mobile world. Nokia happens to be creating innovative technology and option of Internet applications, devices and services, individually from time and place. To achieve their goals they follow these steps:
Create being successful devices (technological innovation)
Include consumer Internet services (demand for cordless access is increasing)
Deliver enterprise alternatives (continuing to target and enter sections of the communications market)
Build size in networks
Expand professional services (invest to R&D and develop to other market segments)
Corporate Strategy - Nokia as a multinational company has to focus on its appropriate corporate and business level strategy, which is actually related to with the wide and long-term questions and issues. For instance, they have to define the existing and ideal status of the company; furthermore they need to find the perfect solution is to reach the perfect status. They need to study the available tools and research whether:
to acquire new businesses,
to add or divest sections, plants or product lines,
to take part in joint endeavors with other corporations (Nokia Siemens Systems, a jv between Nokia and Siemens AG).
International Strategy - Nokia has actively pursued a global strategy; therefore 95 % of all revenues are produced beyond its borders. This significant success can be attributed to its research and development (R&D) attempts. To say the most excellent one, the technology of "global roaming" which may be employed on every cell phones and telecommunication systems all over the world.
In order to gain access to large markets where economical integration strategy can effectively be used, Nokia has to form strategic alliances with distributors and telecom companies such as AT&T (U. S. telecom).
LG
Business Strategy - LG is producing goods and services that are unique to the market with the use of differentiation as the key strategy in their business strategy. They need to spend into R& D to aid the development of the new technology devices to meet the increasing customer requirements. Their USP is dependant on the rich assortment of TFT-LCD exhibits which provide trim and modern design. Moreover, their strategy includes the improvement of customer position; they are able to better react to the needs of these customers in a well-timed and productive manner.
Corporate strategy - LG's commercial strategy concentrate on the long-run by establishing Divisional, Strategic and Product objectives and strategies. By establishing these strategies and targets LG will improve on several fields such as,
Internal coordination
Optimize resource utilization
To take on with competitors
Meeting the strategic goals can border over competition. Furthermore, it can benefit fast innovation and new-product development, technology in design and technology, upsurge in product sales, market talk about, and corporate value. Fast growth is the result of implementing strategies designed to swiftly extend market size and profits, with and eyes toward monetary progress.
International strategy - Relating with an LG spokesperson, the prospective may be accomplished by making tactical investments in the development of core systems. This gives the company the required leverage to provide consumers products with features with the best price. He also is convinced the advancement of marketing knowledge as well as the introduction of long-term relationship programs with retailers will play an important part.
The most important top features of LG's international strategy management will be the following:
Selection of expansion markets predicated on long -range plans
Prompt and bold decisions to broaden into new market segments and attention of management resources
Decisions by local office buildings on development, locally designed products, building a sales network and internationalization of headquarters
Effective sales marketing promotions with focus on its brand name
Conclusion
In conclusion, both company should focus on long - term planning and decision making, since it can significantly broaden their market growth, although wrong decision can certainly cause the contrary. As possible seen in the information, the innovations of smart devices are setting obstructions at both companies sales volume. Therefore, the removal of this obstacle is immediate. Technical creativity and aggressive international marketing campaign could be a solution for the trouble. However, the alliance of LG and Nokia against Apple would be unstable solution which might lead to success.
