It’s Time for Apple Inc. (AAPL) to Take the Competition Seriously: Nokia Corporation (ADR) (NOK)

In India, Apple currently holds the second spot in revenue market share — with 15.6%. Meanwhile, Samsung has a staggering 38.8% in the country.

Source: CNN.

Apple has helped its iPhone sales in India by setting up installment plans for the phones, but it’s clear from the graph that Apple has a long way to go in making a dent in India.

Innovation is key
For Apple Inc. (NASDAQ:AAPL), and for most tech companies, innovation is key to winning market share and bringing in profits. Nokia Corporation (ADR) (NYSE:NOK) failed to tap into the changes in the smartphone market and saw Apple’s iOS and Google’s Android steal the smartphone show. The company that once had 30% of the mobile phone market share now holds just 3 %. Nokia is a prime example how tech companies, particularly mobile ones, can fall out of favor quickly if they miss out on tech trends.

On the same note, Microsoft Corporation (NASDAQ:MSFT) CEO Steve Ballmer admitted back in 2010 that the company missed the mobile cycle and has to play catch-up . Now, it’s three years later and the company has released its latest version of Windows Phone and a new tablet line. But Microsoft is nowhere near being a mobile dominator in the smartphone or tablet market and is still fighting for mobile relevance.

Apple Inc. (NASDAQ:AAPL) isn’t at risk of falling into tech irrelevance, but Nokia Corporation (ADR) (NYSE:NOK) and Microsoft’s missteps should serve as a reminder to the iMaker that no company is impervious to changing trends and fierce competition. The mobile world moves incredibly fast, and Apple investors need to see that old spark of innovation that many hope the company still has. Whether it’s the launch of an iTV, iWatch or new iPhone that leapfrogs the competition, Apple may need to show something new soon. Continuing a trend of amazing products can be difficult, but it’s something consumers and Apple investors have become accustomed to. Sales and profits may flow in from iterations of Apple’s current products, but new products may be the only thing that can boost Apple’s momentum and calm investors’ fears.

The article It’s Time for Apple to Take the Competition Seriously originally appeared on Fool.com.

Fool contributor Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple and Microsoft.

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