Nokia changes its iconic logo

New Delhi: Focussing on excessive growth the telecom equipment maker, Nokia announced plans to change its brand identity completely with a new logo on February 26.

The new logo comprises five different shapes forming the word NOKIA. The iconic blue color of the old logo has been dropped for a range of colors depending on the use.

The Chief Executive Pekka Lundmark said that there was the association to smartphones and nowadays we are a business technology company.

He was speaking ahead of a business update by the company on the eve of the annual Mobile World Congress (MWC) which opens in Barcelona on Monday and runs until March 2.

After taking over the top job at the struggling Finnish company in 2020, Lundmark set out a strategy with three stages: reset, accelerate and scale. With the reset stage now complete, Lundmark said the second stage is beginning.
While Nokia still aims to grow its service provider business, where it sells equipment to telecom companies, its main focus is now to sell gear to other businesses.

Lundmark said that they want to take that to double digits as quickly as possible. He remarked that they had very good growth (21 percent) last year in enterprise which is currently about 8 percent or two billion euros ( USD 2.11 billion) roughly.

Major technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers, mostly in the manufacturing sector.

Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment.
Nokia’s move toward factory automation and data centers will also see them locking horns with big tech companies, such as Microsoft and Amazon.

The market to sell telecom gear is under pressure with macro environment denting demand from high-margin markets such as North America, being replaced by growth in low-margin India, pushing rival Ericsson to lay off 8,500 employees.
Lundmark said that India is our fastest-growing market that has lower margins that is a structural change. Adding that Nokia expects North America to be stronger in the second half of the year.

ALSO READ: Raajas India bets on environment friendly disposables