Rebranding a company signals a change in focus which is now thought for the case of Nokia. Nokia is currently making a change in a similar way. After taking over the top spot at Finnish company Nokia in 2020, CEO Pekka Lundmark outlined a three-phase plan - reset, accelerate, and scale.
With the first move, Nokia is now accelerating, thus, changing its logo for the first time in 60 years, indicating a change in its strategy. The new design of the logo consists of five different shapes forming the word 'Nokia.' The classic blue color of the old logo has been replaced with white colour only.
Let's take a closer look.
Nokia, a Finnish maker of 5G equipment, revamped its logo to dissociate itself from the tag of mobile phones maker, an area it abandoned nearly ten years ago.
CEO Lundmark said that Nokia is now a "business technology company" rather than just a smartphone maker company.
In addition to redesigning the logo, the brand also outlined how it expects the network to evolve over the next seven years and how it plans to evolve in line with these changes.
Nokia is now on target to grow its service provider business, selling equipment to telecommunications companies; its prime focus is currently on selling gear to other businesses.
Lundmark said that the company had a pretty well increase in enterprise last year, i.e., 21 percent, which currently accounts for about eight percent of the sales, (or) 2 billion euros ($2.11 billion). Now the company wants to convert it into double digits as soon as possible.
Lundmark also said that Nokia is now more focused on adding market share in the company's business by serving wireless service providers with network equipment.
According to him, Nokia now has the "ammunition and tools" to gain market share without compromising on margins. Nokia also plans to review the growth trajectory of its various businesses and consider alternatives, including disinvestment.
The company's new logo indicated the mission and principles of Nokia in a modern, energetic, and vibrant way. According to Nokia, it is all about the reflection of teamwork which is very significant to reach full potential and to achieve improvements in productivity, sustainability, and accessibility.
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