As the manufacturer of telecom equipment concentrates on ambitious growth, Nokia announced plans to change its brand identity for the first time in nearly 60 years, complete with a new logo, on Sunday.
The word Nokia is represented by five different shapes in the new logo. Depending on the purpose, the previous logo's signature blue colour has been replaced with a variety of colours.
While the manufacturer of telecom equipment concentrates on ambitious growth, Nokia announced plans to alter 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 different shapes in the new logo. Depending on the purpose, the previous logo's signature blue colour has been replaced with a variety of colours.
According to Chief Executive Pekka Lundmark, "There was the association to cellphones 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 addressing before to a business update by the company.
Lundmark devised a three-stage strategy in 2020 after assuming leadership of the faltering Finnish business. The stages were reset, accelerate, and scale. Lundmark stated that the second stage has started now that the reset stage is over.
Nokia's primary focus is now on selling equipment to other firms, though it still hopes to expand its service provider sector, where it sells equipment to telecom companies.
“We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly,” Lundmark said. “We want to take that to double digits as quickly as possible.”
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To sell private 5G networks and equipment for automated factories to consumers, particularly in the manufacturing sector, major technology companies have partnered with telecom equipment manufacturers like Nokia.
Nokia intends to evaluate the development of each of its companies and explore all available options, including divestiture.
"There is a strong signal. We only want to work for companies where we can observe global leadership, according to Lundmark.
Nokia will be competing against major tech firms like Microsoft and Amazon as they move towards datacenters and factory automation.
There will be a variety of scenarios, some of which may involve our partners and others with whom we do business. and I'm certain there will be circumstances in which they will compete.
With development in low-margin India replacing demand from high-margin areas like North America, the market for telecom equipment is under strain, forcing competitor Ericsson to lay off 8,500 workers.
Lundmark added that Nokia anticipates North America to perform better in the second part of the year: "India is our fastest growing market that has lower margins — this is a structural change."
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