Ajit Karn
Nokia Changes Iconic Logo For The First Time In Sixty Years
Barcelona: The telecom equipment manufacturer announced on Sunday that it will change its brand identity for the first time in nearly 60 years, replete with a new logo, as it focuses on aggressive development.
The new logo consists of five distinct forms that compose the word NOKIA. The once-iconic blue hue of the former logo has been replaced with a variety of colours, depending on the application.
“There was a connection to devices, but we are now a commercial technology company,” CEO Pekka Lundmark told Reuters.
On the eve of the annual Mobile World Congress (MWC), which begins in Barcelona on Monday and continues through March 2, he spoke in advance of a business update by the company.
After assuming leadership of the struggling Finnish company in 2020, Lundmark devised a three-stage strategy: reset, accelerate, and scale. Lundmark stated that the second stage has begun now that the initial phase has concluded.
Nokia still intends to expand its service provider business, in which it sells equipment to telecom companies, but it is now primarily focused on selling equipment to other businesses.
“Last year, our enterprise division grew by 21%, which represents roughly 8% of our sales, or approximately 2 billion euros,” Lundmark said. We want to achieve double-digit growth as soon as feasible.
Prominent technology companies have partnered with telecom equipment manufacturers such as Nokia to sell private 5G networks and equipment for automated factories to manufacturing industry customers.
Nokia intends to evaluate the growth trajectory of its various businesses and contemplate alternatives, such as divestment.
“The signal is extremely strong. We are only interested in enterprises that demonstrate global leadership “Lundmark said.
In addition to competing with Microsoft and Amazon, Nokia’s turn towards factory automation and datacenters will pit the company against other tech titans such as Apple and Google.
“There will be a variety of situations, sometimes they will be our partners, sometimes they will be our customers, and I’m confident there will be instances when they will be our competitors.”
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The market for the sale of telecom equipment is under pressure due to a macro environment that is dampening demand from high-margin markets, such as North America, and being substituted by growth in low-margin India, which has prompted Ericsson’s competitor to lay off 8,500 employees.
“India is our fastest-growing market with the lowest margins – this is a structural shift,” said Lundmark, adding that Nokia anticipates North America to be stronger in the second half of the year.
