As the manufacturer of telecom equipment concentrates on aggressive growth, Nokia revealed plans to change its brand identity for the first time in nearly 60 years on Sunday, complete with a new logo.
The word Nokia is represented by five distinct shapes in the new logo. Depending on the use, the old logo’s signature blue hue has been replaced with a variety of colors.
Nokia changes its famous logo
CEO Pekka Lundmark claims that “there was the association to smartphones and today we are a business technology company.”
On the eve of the annual Mobile World Congress (MWC), which begins in Barcelona on Monday and lasts until March 2, he was speaking before a business update by the firm.
So, in 2020, Lundmark developed a three-stage plan after taking over the ailing Finnish company’s management. Reset, accelerate, and scale were the stages. The restart step is over, according to Lundmark, and the second stage has begun.
Nokia’s primary emphasis is now on selling equipment to other businesses, though it still hopes to expand its service provider business, where it sells equipment to telecom companies.
According to Lundmark, “We had very good 21% growth in enterprise last year, which is presently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly.” We want to increase that to double figures as soon as we can. To sell private 5G networks and equipment for automated factories to customers, mostly in the manufacturing industry, major technology companies have partnered with telecom equipment manufacturers like Nokia.
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So, Nokia plans to assess the progress of each of its businesses and consider all of its choices, including divestiture.
“The transmission is extremely strong. We only desire positions in companies where we can observe worldwide leadership “said Lundmark.
Nokia will be competing against major tech firms like Microsoft and Amazon as they progress toward data centers and factory automation.
There will be many different kinds of cases; occasionally they will be our partners, occasionally they might be our clients, and I’m sure there will also be circumstances where they will be rivals. With the growth in low-margin India replacing demand from high-margin markets like North America, the market for telecom equipment is under strain, forcing competitor Ericsson to lay off 8,500 workers.
Lundmark asserts that India, Nokia’s fastest-growing market, has smaller margins. So, this is a structural shift, he added. In the second half of the year, North America should perform better, according to Nokia.
