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CONFIDENTIALMobile Handset Competitor Analysis: NokiaSAMSUNG ELECTRONICS CHINA (SEC China)August 20, 2001This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. This material was used by McKinsey & Company during an oral presentation; it is not a complete record of the discussion.SAMSUNG010605BJ-kickoff2 OVERVIEW OF COMPETITOR ANALYSIS FRAMEWORK1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus on•Marketing, advertising and promotion•Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product/market •Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing1SAMSUNG010605BJ-kickoff2 KEY ISSUES TO PROBE - NOKIAStrategyProduct/marketValue chainstrategyOrganization &ownershipFinancialperformance•How does Nokia position itself now and in 2005?•What are Nokia’s product and value delivery system strategies that differentiate itself from its competitors?•How does its current market position help achieve its goal?•What is Nokia’s key product offerings and how does Nokia differentiate its products from its competitors’?•What customer segments is Nokia targeting at?•In which geographic areas is Nokia strong or weak?•How does Nokia’s product development meet customer requirement?•How do Nokia’s distribution channels differ from its competitors’?•Why does Nokia launch exclusive specialist shops? •How does Nokia provide customer services?•How much does Nokia invest in JVs and WOFEs in China, and what are the main drivers?•How does Nokia organize to enable the JVs and WOFEs to work together?•How strong is Nokia’s performance and what are the major contributors?•What is Nokia’s performance trend?2SAMSUNG010605BJ-kickoff2 BACKGROUND INFORMATION1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product/market •Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing3SAMSUNG010605BJ-kickoff2 NOKIA IS RELATIVELY A LATE-COMER TO CHINA; HOWEVERIT HAS GROWN RAPIDLY TO BECOME A MARKET LEADER IN MOBILE COMMUNICATIONBackgroundImplicationLocation•Based at Finland, with offices in China, e.g. Beijing•China is Nokia's strategic location because it is Nokia's second largest market, second only to USInvestment•Invested more than USD1.7 billion in China Business•Two main business units: Nokia network and Nokia mobileStarting•First office in China in 1985, first JV in China in 1994Employees•60,000 staff in 130 countries•More than 20 offices in China, 7 JVs, 1 WOFE and 1 R&D center with over 5500 staffHistory•Started business in China since 1950s•1985 saw first office in Beijing, supplying fixed line networks•Supplied analog NMT 450 system and terminal in 1986•Supplied transmission system, optical cable and electric cables in later 1980s•Supplied analog ETACS system and terminals in 1989•Supplied GSM system and terminals in 1990s•Leader in mobile communication globally and in China•Al though a relatively later-comer to China, has invested heavily in its Chinese business•Focused product lines with Nokia network offering mobile, broadband and IP network infra-structure, and Nokia mobile offering mobile handsetsSource: Nokia Press Release4SAMSUNG010605BJ-kickoff2 STRATEGY1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product /market•Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing5SAMSUNG010605BJ-kickoff2 NOKIA POSITIONS ITSELF AS A LEADING PRODUCT AND SYSTEM SUPPLIER IN THE FAST GROWING MOBILE COMMUNICATION INDUSTRYVisionTo lead mobile communication through the integration of mobilitywith internet and the innovation of new service modelsProductValue delivery systemStrategy•Focuses on mobile communication products and aims to be a total solution provider in mobile communication•Regularly introduces consumer-oriented products with emphasis on designs and functions•Builds strong local alliance through JVs with Chinese partners and R&D centers with Chinese universities•Builds exclusive specialist shops to bring one-step solutions to end users•Builds fixed and mobile service stations with wide geographic coverage including rural areasSource: Nokia press Release6SAMSUNG010605BJ-kickoff2 NOKIA HAS CAUGHT UP WITH MOTOROLA AS MARKET LEADERS IN MOBILE HANDSETS SINCE 1999Monthly market share development (Percent of market in units sold)9899Jan ‘00Dec ‘00NokiaMotorolaSiemens EricssonSource: IDC, McKinsey Analysis7SAMSUNG010605BJ-kickoff2 UNLIKE ITS COMPETITORS, NOKIA’S MARKET SHARE IS THE SAME AMONGST NEW AND REPURCHASE BUYERSOthersNokiaEricssonSiemensMotorolaRepurchase BuyersNew BuyersTotal marketPercent of units sold, 2000 4Q25%75%% of Market100%Definition:•New buyer:never bought mobile phone before•Repurchase buyer: bought mobile phone before Source: IDC, McKinsey analysis8SAMSUNG010605BJ-kickoff2 AMONG REPURCHASERS, NOKIA’S CHURN RATE IS HIGH, BUT AT PAR WITH MOTOROLA Percent, 2000 EricssonNokiaAlcatelOthersSiemensBrand bought by previous Nokia owners MotorolaSamsungMotorolaAlcatelOthersSiemensBrand bought by previous Motorola owners NokiaSamsungEricssonSource: McKinsey analysis9SAMSUNG010605BJ-kickoff2 PRODUCT/MARKET1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership 6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product /market•Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing10SAMSUNG010605BJ-kickoff2 •Nokia has a narrow product portfolio focusing on mobile communication products, and mobile handset is Nokia’s key product offering•Nokia offers consumer-oriented handsets with emphasis on designs and functions, targeting medium and low end customers. Its main customer segments are the young and fashionable•Nokia’s fashion phones are relatively strong in major cities and the south region; however Nokia is relatively weak in the fourth-tier citiesKEY MESSAGES - PRODUCT/MARKET11SAMSUNG010605BJ-kickoff2 MOBILE HANDSET IS NOKIA's BIGGEST PRODUCT OFFERING AND ITS ESSENTIAL PART OF TOTAL SOLUTIONS IN MOBILE COMMUNICATIONNokia mobile handsetsNokia product offeringsNokia networkProductsNow and future•Nokia 3310 for young people•Nokia 8210 for fashion chaser•Nokia 6210 WAP for business professional•Nokia 7110 WAP with full Chinese interface•Nokia 9210 as personnel communicator•Nokia 8310, 6310 for GPRS and WAP•Mobile network•Broadband network•IP network•Largest mobile handset supplier in the world with above average growth in sales and more than 30% global market share•Views mobile handset as a digital convergence point for multimedia services•Supports blue tooth between mobile handset and PC in Nokia 6310 for mobile professional•Develop WCDMA handsets with DoCoMo•Develops homenet products such as multimedia terminals in Nokia Zhongxin•Provides multimedia service network solutions for operators and ISP entering the mobile communication fields•Nokia network covers many cities and areas in China including Beijing, Shanghai, Hong Kong and Taiwan etc.•Aims to be a total solution provider for mobile communication12SAMSUNG010605BJ-kickoff2 NOKIA EMPHASIZES ON CONSUMER-ORIENTED DESIGNS AND FUNCTIONSFashion BusinessBasicFun•Changeable cover •Sub-100g•Voice-dial•Recording•Vibration•Tri-band•WAP•Built-in modem•IR-port•Chinese input•Li-Ion battery•SMS messaging•Games•Composable/ downloadable ringer tone82106210P7689L2000V998++FashionClassicPrice in China (RMB)26522878236918001435*1452Equivalent features, Nokia more fun/fashion vs. Motorola more functionsMotorola offers lower price models with similar features, tri-band and WAP* Nov. 2000 priceKey Differences13SAMSUNG010605BJ-kickoff2 WITHIN CHINA, NOKIA's FASHION PHONES PERFORM BETTER IN SOUTH CHINA AND LARGE CITIESNorth region East region South regionChina averageBeijingShanghaiShenzhenGuangzhouMarket sharePercent, 2000 Source: McKinsey Analysis14SAMSUNG010605BJ-kickoff2 Tier 1Tier 2Tier 3Tier 4NokiaMotorolaOthersNOKIA IS RELATIVELY WEAK IN THE IMPORTANT 4TH TIER CITY MARKETPercent market share, 2000EricssonSiemens18%19%23%40%Tier size as % of total100%=Million units 6.77.08.514.8Source: McKinsey Analysis15SAMSUNG010605BJ-kickoff2 Source:Retail Audit, McKinsey analysisAND THIS WEAKNESS IN 4TH TIER CITIES SPANS MOST PROVINCES Inner MongoliaHunanYunnanAnhuiGuangdongFujianZhejiangHeijongjiangJilinHenanJiangxiHebeiShanxiLiaoningSichuanShandongJiangsuShanxiHubeiGansuGuizhouPercent market share, NokiaMarket sharePercentProvinceTier 1/2/3 cityTier 4 city16SAMSUNG010605BJ-kickoff2 VALUE CHAIN STRATEGY1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership 6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product/market •Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing17SAMSUNG010605BJ-kickoff2 •Nokia is not regarded as a technology leader, as compared with Motorola; however, it spends a great amount of effort in understanding customer requirements and tailors its product to meet these requirements.•Nokia employs PTAC, CellStar, Beijing Telecommunication Equipment Factory, Bright Point, Express Fortune, and Tech Glory as the first-tier resellers to distribute handsets through authorized stores and counters. The distribution channels are relatively flat.•While its retail shops are growing rapidly to approximately 900 around the country, Nokia also develops exclusive specialist shops in order to provide “one-step” solutions to end users•Nokia implements a highly efficient customer service system with 250 service stations and mobile service stations for rural areas. It provides good pre- and after sales serviceKEY MESSAGES - VALUE CHAIN STRATEGY18SAMSUNG010605BJ-kickoff2 NOKIA IS STRONG AT MARKETING, SALES AND SERVICE, BUT WEAK AT TECHNOLOGYManufac-turing and supply chainSales and distributionMarketing and branding R&DStrengthsLevers for improvement•Established R&D center in 98/99 in Beijing for China market, with 150 research staff•Strong in low end development•Good product quality and design•Weaker position in high end segment and high end technology•Position in low end under attack •Scalable local production•Optimized logistics•Country-wide distribution channels and strong channel management •High retailers preference•Lower rating of retail support •Retailer preference not translating into higher market share•Strong brand awareness and preference•Promotes “technology based on people” •Awareness and preference lower than Motorola•Brand in young market under attack •Low technology image Service•Highly efficient customer service system with 250 service stations and mobile service stations for rural areas •Good pre- and after sales service, e.g. “one hour repair” service19SAMSUNG010605BJ-kickoff2 ….on Nokia……on MotorolaNOKIA HAS REPUTATION GAP AS TECHNOLOGY LEADER, AND TARGET DIFFERENT CUSTOMER SEGMENTS FROM MOTOROLANokia hasgood productdesignsNokia phonesare for female oryounger peopleNokia is second toupgrade productsMotorola productsare more formalMotorola alwaysintroduces newtechnology to themarket firstLoyal useris white-collarworker….on technology leadership and innovation….on design… on typical loyal users20SAMSUNG010605BJ-kickoff2 NOKIA DISTRIBUTES THROUGH SIX FIRST-TIER RESELLERS AND DEVELOPS EXCLUSIVE SPECIALIST SHOPSNokia Channel Structure•Late entry to the China market with less historic overhead•Flat distribution channels•Develops exclusive specialist shops•Provides after-sale servicesSource: China Computer JournalVendor1st-tier resellersConsumers2nd-tier resellersRetailers/retail chain stores6%3%91%22%33%36%6%33%58%Rationales•Nokia employs PTAC, CellStar, Beijing Telecommunication Equipment Factory, Bright Point, Express Fortune, and Tech Glory as its 6 first-tier resellers•Nokia requires resellers to report the promotion plan and product ordering plans a quarter in advance, and since the demand for handsets tends to fluctuate across promotional programs, this inflexible strategy generally limits the potential gain when market demand changes across promotions•Close to 900 retail shops and counters country-wide, with 50% growth from 1999•Form exclusive specialist shop to provide one-step solution to end users 21SAMSUNG010605BJ-kickoff2 ORGANIZATION AND OWNERSHIP1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product /market•Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing22SAMSUNG010605BJ-kickoff2 •Nokia has 7JV and 1 WOFE in China, among which Nokia Beijing and Nokia Dongguan are manufacturing mobile handsets. Nokia Beijing has annual production capacity of 30 million units in 2001.•The main drivers for Nokia to setup JVs and WOFEs in China include building local alliances, localizing manufacturing to meet domestic market demand and increase exports, and technology transfer encouraged by the Chinese government•With a narrow product portfolio, Nokia’s organization is product focused with coordinated sales and marketing effort across JVs that manufacture the same productsKEY MESSAGES - ORGANIZATION AND OWNERSHIP23SAMSUNG010605BJ-kickoff2 NOKIA HAS 7 JVs AND 1 WOFE IN CHINA, AMONG WHICH 2 JVs ARE DEVOTED TO MOBILE HANDSETSMain drivers•Builds successful alliance with Chinese partners•Localizes manu-facturing for major products•Meets domestic market demandand increases exports•Realizes technology and skill transfer in development, manufacturing and management•Helps Chinese partners improve competitiveness in China and globallyNokia internationalNokia Beijing mobile commu-nicationNokia Dongguan mobile phoneNokia Fujian mobile communication technologyNokia Beijing, Hangxing telecomNokia Dongda telecom technologyNokia Zhongxin digital technologyNokia Suzhou telecomNokia Chongqin telecomEstablished yearProduct offering1995199519971994200019991998•GSM system and equipment•Mobile handsets•Mobile handsets•GSM 900/1800 network services•Mobile switches•Wireless applications solutions and services•Digital multimedia terminals•GSM base station•Cellular network transmission products50% with Shouxin70%With Dongguan WanxinWith Fujian mobileWith Beijing HangxingWith DongruanWith Zhongxin and broadcasting science institute100%24SAMSUNG010605BJ-kickoff2 NOKIA's ORGANIZATION IS MAINLY PRODUCT FOCUSED WITH A NARROW PRODUCT PORTFOLIO AND COORDINATED SALES AND MARKETINGNokia internationalNokia Beijing mobile communi-cationNokia Dongguan mobile phoneNokia Fujian mobile communic-ation technologyNokia Beijing Hangxing telecomNokia Dongda telecom technologyNokia Zhongxin digital technologyNokia Chongqin telecomMarketingNokia China officeNokia China officeSalesServiceManufa-cturingSales and ServicesManu-facturingR&DServiceManufa-cturingSales and ServicesR&DImpleme-tationSales and ServicesManufa-cturingSales and ServicesNokia Suzhou telecomManufa-cturingSales and Services•GSM system and equipment•Mobile handsets•Mobile handsets•GSM 900/1800 network services•Mobile switches•Wireless applications, solutions and services•Digital multimedia terminals•GSM base station•Cellular network transmission products25SAMSUNG010605BJ-kickoff2 FINANCIAL PERFORMANCE1. Background information•Location•Registered capital•Managementteam•Equitystructure•Starting year•Number of employees•Era analysis4. Value chain strategy5. Organization and ownership 6. Financial performance•Focus on–Marketing, advertising and promotion–Distribution (channel and sales force)•Organization structure•Ownership structure•Sales •Profit 2. Strategy 3. Product/market•Mission•Vision•Corporate strategy•Market position•Key product offerings•Key customers•Value proposition•Geographic focus•Pricing26SAMSUNG010605BJ-kickoff2 •Nokia’s sales in China grew 31% and its operating profit grew 26% in 2000, among which, mobile handsets contributed to 59% of the sales and 70% of the profit.•Mobile handset plays an increasingly important role in Nokia’s product portfolio, as it represents 59% of the sales in 2000 from 54% in 1999.•Nokia has secured an operating margin of 22% in mobile handsets, the highest margin in the mobile handset industry in China, due to highly efficient operations that keep the cost down to minimum, even though intensive competition has driven the operating margin down from 24% in 1999.KEY MESSAGES - FINANCIAL PERFORMANCE27SAMSUNG010605BJ-kickoff2 NOKIA SEES 30% GROWTH IN SALES AND OPERATING PROFIT WHERE MOBILE HANDSETS CONTRIBUTE MORE THAN 50%Revenues in ChinaOperating profit in China2,0522,6972000Mobile handsetsUSD millions4065121999200031%26%1999Mobile handsetsSource: Nokia Press Release, IDC, McKinsey Analysis28SAMSUNG010605BJ-kickoff2 9、静夜四无邻，荒居旧业贫。
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