Nokia has announced plans to change its brand identity for the first time in nearly 60 years, complete with a new logo.
Nokia announced plans on Sunday to change its brand identity for the first time in nearly 60 years, complete with a new logo, as the telecommunications equipment maker focuses on aggressive growth.
The new logo comprises five different shapes forming the word NOKIA. The iconic blue colour of the old logo has been dropped for a range of colours depending on the use.
“There was the association to smartphones and nowadays we are a business technology company,” CEO Pekka Lundmark said in an interview.
He was speaking ahead of a business update by the company on the eve of the annual Mobile World Congress, which opens in Barcelona on Monday and runs until 2 March.
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 telecoms companies, its main focus is now to sell gear to other businesses.
“We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, or €2-billion roughly,” Lundmark said. “We want to take that to double digits as quickly as possible.”
Major technology firms have been partnering with telecoms 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. “The signal is very clear. We only want to be in businesses where we can see global leadership,” Lundmark said.
Nokia’s move towards factory automation and data centres will also see it locking horns with big tech companies such as Microsoft and Amazon.