Once the largest seller of cellphone, Nokia’s fortunes took a turn for the worse when it failed to respond to the iPhone challenge from Apple in 2007. Nokia’s executives initially dismissed the iPhone as a one-off product while it had a portfolio of products and could never accept that an “outsider” could come and ruin its entire game plan. That’s exactly what happened and today Nokia is going through a tough transition period as it tries to get its footing right. However, that w...