The Unseen Forces Behind the Fall of the Swedish Mechanical Calculator Industry ????

Introduction

Hello, corporate professionals! Ever wondered how a seemingly invincible industry can crumble almost overnight? Let's delve into the story of the Swedish mechanical calculator industry, specifically the company Facet, and how it went from a market leader to obsolescence in just a few years.

The Golden Era: Facet's Rise to Dominance ??

The Birth of Facet ???

Facet, a Swedish company, was a giant in the mechanical calculator industry. Founded in 1932, it employed thousands globally and was making millions in profits. Their calculators were beautifully crafted, featuring 2,300 parts, and remained largely unchanged for 40 years.

The Winds of Change: The Digital Revolution ???

The Anita Effect ??

In 1961, a UK-based company called Bell Punch introduced Anita, the first desktop all-electronic calculator. This was a game-changer. Anita was faster, more efficient, and sold at a competitive price, shaking the mechanical calculator market.

The Missteps: Facet's Strategic Errors ??

The Sharp Deal Gone Wrong ??

Facet tried to adapt by striking a deal with Sharp Corporation to resell their digital calculators. However, the deal soured as Sharp started selling directly to customers, leaving Facet in a lurch.

The Downfall: The Market Shifts ??

The Integrated Circuit Revolution ???

The invention of integrated circuits in 1967 drastically reduced the cost of electronic calculators. Companies like Casio and Hewlett-Packard flooded the market with cheap, efficient calculators, making mechanical calculators obsolete almost overnight.

The Aftermath: Lessons Learned ??

The Power of Adaptability ??

Facet's downfall serves as a cautionary tale about the importance of adaptability and innovation. The company was too slow to adapt to the changing technological landscape, and it cost them dearly.

Conclusion ??

The story of Facet is a stark reminder that no industry is too big to fail. It underscores the need for companies to be agile, innovative, and ready to pivot when the market demands it. As corporate professionals, this is a lesson we can all take to heart.