The New York Times on Nokia eliminating 7,000 jobs as part of a cost-cutting program:
Nokia produced 108.5 million mobile phones last year, supplying 32 percent of the global market, but this year the company ceded the lead in cellphone revenue to Apple, the maker of the iPhone, according to Strategy Analytics, a research firm.
And some people predicted the iPhone would fail. Back in 2006, a few weeks before the iPhone was unveiled, Michael Kanellos at CNET wrote:
Sales for the phone will skyrocket initially. However, things will calm down, and the Apple phone will take its place on the shelves with the random video cameras, cell phones, wireless routers and other would-be hits.
via Daring Fireball