On February 26, Nokia launchd a new brand identity after nearly 60 years. This is a move that marks a change in business strategy, aiming for strong growth in the future.
The new logo consists of 5 simple flat shapes that form the word NOKIA. The “legendary” blue color of the old icon has been remove, replace with different background colors depending on the intende use.
CEO Pekka Lundmark said many people still think Nokia is making phones. That is also part of the reason why the company change its logo, to emphasize the current business area.
We Want to Launch a New Brand Focusing on Networking and Industrial Digitization
According to Reuters , the logo was introduce by Nokia on the eve of the opening of the MWC 2023 mobile exhibition in Barcelona (Spain).
After holding the position of Fabricated Metal Manufacturers Email List CEO of Nokia since 2020, Lundmark set out a three-stage development strategy: re-establishing, accelerating and scaling. Changing the logo means that the first phase is complete.
In the coming time, Nokia will evaluate the growth path of different business segments to come up with appropriate strategies, including divestment.
Nokia still aims to develop its services business, which sells devices to carriers. However, the company will shift its focus to providing 5G equipment for factories and data centers, competing with Microsoft and Amazon.
We Had Very Good Growth Last Year With 21% in the Business Division
Accounting for 8% of total revenue, or $2.11 billion . We want to get the ratio to double digits as soon as possible,” Lundmark said.
The field of telecommunications equipment is under pressure due to the volatile macroeconomic situation. Demand in high-margin markets such as North America get CMB Directory to is dwindling, while India with poor margins has grown sharply .
“India is our fastest growing market with low margins. It’s a structural change,” Lundmark said. However, he still expects the North American market to recover in the second half of this year.
The phone manufacturing division no longer belongs to Nokia after being acquired by Microsoft in 2014. In 2016, HMD Global was established and bought the rights to manufacture Nokia branded phones.
According to Engadget , it is not clear if HMD Global will use the new Nokia logo on the next phone models or not.