As it pursues ambitious development, Nokia (NOKIA.HE) revealed plans on Sunday to alter its brand identity and logo for the first time in over 60 years.
Five shapes spell NOKIA in the new logo. Depending on the application, the distinctive blue logo has been replaced with various colors.
In a Reuters interview, CEO Pekka Lundmark said, “There was the link to cellphones and nowadays we are a corporate technology firm.”
He gave a corporate update on the eve of the Mobile World Congress (MWC), which begins in Barcelona on Monday and goes through March 2.
After taking over the failing Finnish firm in 2020, Lundmark devised a three-stage strategy: reset, accelerate, and grow. Lundmark claimed the second stage started after the reset.
Nokia still sells equipment to telecom firms but now prioritizes selling to other industries.
Lundmark added, “We had incredible 21% growth last year in enterprise, which is today around 8% of our revenues, (or) 2 billion euros ($2.11 billion). “We aim to reach double digits rapidly.”
Technology companies like Nokia have begun selling private 5G networks and automated factory gear to manufacturing customers.
Nokia will evaluate its business growth and contemplate divestiture.
“Clear signal. Only companies with worldwide leadership interest us, “Lundmark.”
Nokia will compete with Microsoft (MSFT.O) and Amazon (AMZN) in factory automation and data centers (AMZN.O).
“They will be partners, clients, and rivals,” he said.
Comment Template