- Nokia has unveiled a new brand logo for the first time in 60 years of its existence.
- The new logo has five different shapes that form the word ‘Nokia’.
- The iconic Blue colour has been changed to various new colours depending on the use.
Nokia, for the first time in its existence of 60 years, has announced a change to its brand identity with a completely new logo. The new logo has five different shapes that form the word ‘Nokia’. The iconic Blue colour has been changed to various new colours depending on the use.
In an interview with Reuters, Chief Executive Pekka Lundmark, said “There was the association to smartphones and nowadays we are a business technology company.” Lundmark set out a strategy after taking over the position at the Finnish company in 2020, which included the mantra of reset, accelerate, and scale.
According to the company, the reset stage is now complete, so Lundmark said the second stage is now beginning. Nokia still wants to grow its service provider business, where it sells equipment to telecom companies; the main focus is now to sell gear to other enterprises.
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Nokia logo change
“We had very good 21 percent growth last year in enterprise, which is currently about 8 percent of our sales, (or) 2 billion euros ($2.11 billion) roughly. We want to take that to double digits as quickly as possible.“
– Chief Executive Pekka Lundmark
Technology firms are partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers. Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment.
“The signal is very clear. We only want to be in businesses where we can see global leadership,” Lundmark said. Nokia aims to take on Microsoft and Amazon by moving forward with automation and data centres.
“There will be multiple different types of cases, sometimes they will be our partners. sometimes they can be our customers. and I am sure that there will also be situations where they will be competitors,” said the top executive.
Lundmark says that India is its fastest-growing market that has lower margins and this is a structural change. Nokia expects North America to be stronger in the second half of the year.
