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Nokia revealed plans on Sunday to alter its brand identity for the first time in over 60 years, complete with a new logo, as the telecom equipment manufacturer focuses on fast expansion.The word Nokia is represented by five distinct forms in the new logo. Depending on the purpose, the previous logo’s signature blue hue has been replaced with a variety of colours.
“There was the link to cellphones and today we are a commercial technology firm,” Chief Executive Pekka Lundmark told Reuters in an interview.
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 firm.
Lundmark devised a three-stage plan in 2020 after assuming leadership of the faltering Finnish business. The phases were reset, accelerate, and scale. Lundmark said that the second stage has started now that the reset stage is over.
Nokia’s primary emphasis is now on selling equipment to other firms, while it still hopes to expand its service provider sector, where it sells equipment to telecom companies.
“We achieved really excellent 21% growth in enterprise last year, which is now around 8% of our revenues, (or) 2 billion euros ($2.11 billion) roughly,” Lundmark added. We want to increase it to double digits as soon as we can.
To provide 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 see global leadership, according to Lundmark.
Nokia will be competing against major IT firms like Microsoft and Amazon as they move towards datacenters and industrial automation.
There will be a variety of scenarios, some of which may include 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.
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According to Lundmark, Nokia’s fastest-growing market, India, has lower margins. This is a structural shift, he said. Nokia expects North America to perform better in the second half of the year.
