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Technological innovation, industry platforms or financialization? A comparative institutional perspective on Nokia, Apple, and Samsung

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  • Kornelakis, Andreas
  • Petrakaki, Dimitra

Abstract

The puzzle of how Nokia lost the smartphone wars has intrigued recent scholarship. Despite Nokia’s dominant position in the mobile phone industry and its technological capabilities and reputation for strategic agility, it was completely wiped out from the market, only a few years after the launch of Apple’s iPhone. The article provides a comparative, historical and institutional account on the smartphone industry by focusing on three key players: Nokia, Apple, and Samsung. This perspective enriches earlier accounts that were overly focused on explaining Nokia’s decline by looking at internal organisational design and conflicts. We propose a two-pronged explanation focused on the reconfiguration of industry platforms and financialisation. The article suggests that single company histories could be enriched by integrating a comparative perspective that examines additional cases. We discuss opportunities for further research to understand how success or failure in technological innovation is embedded in a wider societal and institutional context.

Suggested Citation

  • Kornelakis, Andreas & Petrakaki, Dimitra, 2024. "Technological innovation, industry platforms or financialization? A comparative institutional perspective on Nokia, Apple, and Samsung," LSE Research Online Documents on Economics 124386, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:124386
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    File URL: http://eprints.lse.ac.uk/124386/
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    References listed on IDEAS

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    More about this item

    Keywords

    comparative capitalism; financialisation; industry platforms; innovation; technology;
    All these keywords.

    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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