There are several examples of companies that have completely changed the product or service they sell from when they originally started. Here are a few notable examples:
Nokia: Nokia began as a pulp mill in 1865 and later expanded into various industries, including rubber and telecommunications. It became best known for its mobile phones in the late 20th century. However, with the rise of smartphones, Nokia struggled to adapt and eventually sold its phone business to Microsoft. Since then, Nokia has transitioned into a network infrastructure and technology licensing company.
Wrigley's: Wrigley's, originally known for its soap and baking powder, entered the chewing gum market in the late 19th century. The company's chewing gum became so popular that it shifted its focus solely to gum and confectionery products. Today, Wrigley's is a leading global manufacturer of chewing gum, including popular brands like Juicy Fruit, Orbit, and Extra.
Avon: Avon began as the California Perfume Company in 1886, selling perfume door-to-door. Over the years, the company expanded its product offerings to include cosmetics, skincare, personal care, and home products. Avon has continually adapted to changing consumer preferences and distribution methods, evolving into a global direct selling beauty company.
IBM: International Business Machines (IBM) initially focused on producing commercial scales, time clocks, and tabulating machines when it was founded in 1911. As technology advanced, IBM transitioned into manufacturing computers and mainframe systems, becoming a dominant force in the computing industry. Today, IBM offers a wide range of technology services, including cloud computing, artificial intelligence, and analytics.
Netflix: Netflix started in 1997 as a DVD-by-mail rental service, offering subscribers a wide selection of movies and TV shows. Recognizing the shift in consumer behavior towards digital streaming, Netflix transformed itself into a streaming platform in the early 2000s. It invested in original content production and now offers a vast library of movies, TV series, and documentaries, becoming one of the leading streaming services globally.
These examples highlight how successful companies have embraced change, adapted to evolving markets, and shifted their core products or services to remain competitive and meet consumer demands.