A mockup of the brand-new Nokia logo design is seen in this handout image launchedFeb 26, 2023.
Nokia|Via Reuters
Nokia revealed intend on Sunday to alter its brand name identity for the very first time in almost 60 years, total with a brand-new logo design, as the telecom devices maker concentrates on aggressive development.
The brand-new logo design makes up 5 various shapes forming the word NOKIA. The renowned blue color of the old logo design has actually been dropped for a series of colors depending upon the usage.
“There was the association to smartphones and nowadays we are a business technology company,” Chief Executive Pekka Lundmark informed Reuters in an interview.
He was speaking ahead of a company upgrade by the business on the eve of the yearly Mobile World Congress (MWC) which opens in Barcelona on Monday and runs up until March 2.
After taking control of the leading task at the having a hard time Finnish business in 2020, Lundmark set out a technique with 3 phases: reset, speed up and scale. With the reset phase now total, Lundmark stated the 2nd phase is starting.
While Nokia still intends to grow its company organization, where it offers devices to telecom business, its primary focus is now to offer equipment to other companies.
“We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly,” Lundmark stated. “We want to take that to double digits as quickly as possible.”
Major innovation companies have actually been partnering with telecom equipment makers such as Nokia to offer personal 5G networks and equipments for automated factories to clients, mainly in the production sector.
Nokia prepares to examine the development course of its various companies and think about options, consisting of divestment.
“The signal is very clear. We only want to be in businesses where we can see global leadership,” Lundmark stated.
Nokia’s approach factory automation and information centers will likewise see them locking horns with huge tech business, such as Microsoft and Amazon
“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.”
The market to offer telecom equipment is under pressure with macro environment denting need from high-margin markets such as North America, being changed by development in low-margin India, pressing competitor Ericsson to lay off 8,500 workers.
“India is our fastest growing market that has lower margins — this is a structural change,” Lundmark stated, including that Nokia anticipates North America to be more powerful in the 2nd half of the year.
