Avinash Pandit

So in consulting, at least in top strategy consulting firms,

What happens is that big companies' CEOs come and they have mandate either to increase the top line, which is revenue, or they give mandate to increase the bottom line, which is the profit.

One of the two will fit somewhere.

Nokia came saying that keep our market share stable.

Not like increase it or improve profit.

And this is like early 2010s.

So Samsung was...

really taking away the market share in the top segment.

So, there were feature phones earlier.

The market was shifting to smartphones.

Samsung was taking away the top end of the market.

And below, there were all the Chinese manufactured Indian brands.

This is Spice, Lava, Micromax.

And Nokia was getting squeezed from both the sides.

That pressure is coming from above and from below.

And the interesting thing was that the Indian leadership...

told us not to look at the product.

I mean, when we went to the case for the first time, we could literally see that their product is not right, that they are bleeding because there is no product market fit anymore.

The good product that was there five years ago, in that date,

was not worth at all at the price point at which they were selling.