Bangalore, India, March 3, 2023
After Pekka Lundmark took over Nokia’s telecom equipment arm, he presented a three-phase plan: reset, accelerate, and scale. After completing the first phase of the plan, Nokia will concentrate on accelerating and announcing plans on Sunday, February 26th, to change its brand identity for the first time in nearly 60 years, complete with a new logo, as the telecom equipment maker concentrates on an ambitious expansion. The new logo is constructed of five distinct shapes that combine to create the word NOKIA.
The classic blue hue of the previous logo has been replaced with a variety of colors that vary depending on the application.
According to CEO Pekka Lundmark, who was speaking at the eve of the annual Mobile World Congress (MWC), which opened in Barcelona on Monday and ran until March 2, the reason for the change is that the old logo was associated with smartphones, whereas Nokia is now a business technology firm.
“We built on the heritage of the previous logo, but made it feel more contemporary and digital to reflect our current identity,” CEO Pekka Lundmark wrote in a release Sunday.
Said Lundmark: “We built on the heritage of the previous logo, but made it feel more contemporary and digital, to reflect our current identity.“
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.
Lundmark also added, “The signal is very clear. We only want to be in businesses where we can see global leadership.”
Nokia’s thrust toward data centers and factory automation will put them in competition with major IT players like Microsoft and Amazon.
“Nokia is no longer just a smartphone company, but a business technology company,” said CEO Pekka Lundmark.”
“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,” added Lundmark further.
Nokia struggled to compete with Apple, Samsung, and other smartphone manufacturers after formerly being the biggest seller of cell phones and being associated with the iconic flip phone period. In a disastrous trade, Nokia sold its mobile phone division to Microsoft in 2014, and the following year, Microsoft had to take a staggering $8.4 billion write-down.
Since then, although concentrating on mobile and cloud networking technologies, the corporation has battled to shed its identity as a phone provider. With intentions to increase its presence in the corporate market, Nokia now generates the majority of its revenue through business-to-business sales.
“In most people’s minds, we are still a mobile phone brand, but this is not what Nokia is about,” Nokia CEO
Lundmark will be delivering a keynote address on Tuesday, February 28th, to share a “development that will change the way you look at Nokia forever,” according to the company’s website.
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
