Boston, MA 10/14/2014 (wallstreetpr) – At a time when the technology has been ruling the rust, Apple Inc. (NASDAQ:AAPL) has become a target for Finland to impact its economy. The smart devices from the staple of the technology bellwether have changed the way of computing from anywhere. However, Finland does not think so and blamed the company for hurting its exports at least in two important Markets.
Prime Minister Blames
The comments came from none other than the country’s Prime Minister, Alexander Stubb, latimes.com reported quoting CNBC. He pinpointed Apple Inc. (NASDAQ:AAPL) for losing the ground for two of its largest export industries. He said that while Apple’s iPhone killed Nokia, its iPad killed the paper industry in Finland.
It was a no secret that Nokia had ruled the cell phone market till before Apple Inc. (NASDAQ:AAPL) launched its iPhone. The Finland company’s small and affordable phone enabled everyone to have a mobile phone particularly in the developing countries. Its mobile device was held by one in three persons once upon a time. It also established its brand very well and competed with the American-based Motorola.
Similarly, the prime minister blamed iPad for grounding its paper industry. The country witnessed increased production of printing and writing paper in 2009 and 2010. However, Finnish Forest Industries Federation data pointed out a fall in the production. It was attributed to the launch of iPad in 2010.
Failure Of Nokia
While Finland may have the data to pinpoint or accuse Apple Inc. (NASDAQ:AAPL) of inflicting damage to its economy partly, the fact remained that Nokia had failed to change itself to the technological advancement that the world has been witnessing. It was not just Nokia, others too got dumped in the competition.
For instance, BlackBerry Ltd (NASDAQ:BBRY), which was known as Research-In-Motion earlier, too succumbed for not staying with the changing trend. It was the first smartphone inventor but lagged far behind after the launch of iPhone.
Similarly, paper industry has been facing the onslaught from the rising digital technology all through the world. Therefore, it was the technological advancement that was crucial for any company to stay in tune with the changing trends. This has cost Nokia dearly.