There are many reasons why Nokia failed, but one reason which I think is very important is choosing a North American CEO.
Nokia was the biggest mobile phone maker worldwide, but it never had a strong presence in North America. Due to this, Mr. Elop never understood the brand power of Nokia. For example, in India for millions of people, the name Nokia guaranteed a quality product, even until 2011 or 2012, years after the introduction of the iPhone. So when Mr. Elop took charge, he simply thought the company couldn’t take the Android route because it was too late, as there are already too many fishes in the pond. He never realised that Asian and European markets were waiting for a phone from Nokia that could do everything that other phones could do. What they finally got was a half-heartedly developed Windows platform, which lacked the most basic requirements of developing markets, such as Bluetooth and expandable storage. He also scraped Meego which was a great platform but he didn’t trust the company itself that they could completely develop and sustain the platform. After getting far from perfect and unfamiliar products, customers moved on to other brands and Nokia lost the emotional connection with the customers, because its CEO never understood that connection.