The Next Billion (2007)

Nokia is pursuing its next billion customers by reshaping itself into an Internet services company, while trying to win back a U.S. market where its share has fallen sharply. The company says it has committed $9 billion over two years to consumer Web media, including the $8.1 billion agreed purchase of Navteq and the Ovi online brand launched in August. Nokia's U.S. market share fell from 33% in 2002 to 10% today, which CEO Olli-Pekka Kallasvuo attributes to the company's refusal to tailor phones for U.S. carriers. Its new AT&T-focused strategy includes the Nokia 6555, sold for $49 with a two-year contract.