Executive Summary This paper analyses the competitive strategies of the leading global mobile phone companies, including Nokia, Samsung, and Apple within the broader context of understanding their corporate strategies in the volatile smartphone industry. Notably, this paper keenly focuses on how these companies have formulated their competitive strategies to cope with the dynamism of their business environment. In a broader attempt to understand how they survive in the fast-paced smartphone market, this paper adopts a case study approach of Nokia. Four primary research questions guide this study. They strive to estimate the potential for Nokia’s revival in the technology industry, understand the factors that led to the company’s demise, evaluate the factors that led to the prosperity of its rivals and formulate recommendations that could help it to reclaim its market dominance. A comprehensive review of the findings gathered from secondary data analysis, and interview findings show that Nokia’s lack of understanding about changing consumer tastes and preferences, its failure to innovate, and its overconfidence on the company’s brand image were mostly responsible for its failure. Overall, the story of Nokia and its fall from grace, which is highlighted in this report, provides a compelling case of what modern technology companies, such as Apple and Samsung, should do to stay relevant in today’s competitive smartphone industry. More importantly, it provides valuable lessons for businesses that may want to enter the smartphone market. However, essential to this study is the need to comprehend why leadership is critical for managing the operations of smartphone companies. Introduction Background of the Study Smartphones are among the most popular technological devices among the young and the old. A smartphone differs from an ordinary cell phone because it has more advanced features than the latter. In other words, its functions are almost similar to a computer, except for the fact that it is smaller in comparison to the ordinary desktop. Relative to the similarity of features between a computer and a smartphone, it is important to point out that the latter can perform several advanced technological functions associated with modern technical devices, such as playing high-quality videos, taking images, and web browsing. The ability of smartphones to perform these tasks largely explains their popularity in many parts of the world (Woyke 2014). Additionally, the increased availability of technological expertise associated with their development has made them cheaper than most digital devices, such as tablets and computers, further increasing their application in modern society. The popularity of smartphones in today’s contemporary society has made them increasingly integrated into people’s lifestyles. These developments have made them not only a necessity in modern life but also a norm in the same. Their popularity in contemporary society has also created a lucrative industry for mobile phone manufacturers and their agents (Cecere 2014). Relative to this assertion, Li (2017) says the global smartphone market is a multibillion-dollar industry, which has tentacles in almost all parts of the globe. Concisely, Meyer (2012) adds that the popularity of smartphones in the global t