Nokia gets new logo to remind people that it no longer manufactures phones
Nokia Oyj, a Finnish 5G equipment supplier, has updated its emblem to avoid being associated with mobile phones, a market it left over a decade ago. The brand refresh, launched on Sunday, is accompanied by a series of new strategic pillars aimed at enabling quicker development as the globe progressively embraces fifth-generation mobile technology. “In
Nokia gets new logo to remind people that it no longer manufactures phones
Nokia Oyj, a Finnish 5G equipment supplier, has updated its emblem to avoid being associated with mobile phones, a market it left over a decade ago.
The brand refresh, launched on Sunday, is accompanied by a series of new strategic pillars aimed at enabling quicker development as the globe progressively embraces fifth-generation mobile technology.
“In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about,” chief executive office Pekka Lundmark said in an interview ahead of the Mobile World Congress in Barcelona on Sunday.
“We want to launch a new brand that is focusing very much on the networks and industrial digitalisation, which is a completely different thing from the legacy mobile phones.”
HMD Global Oy continues to sell Nokia-branded phones. HMD obtained the licence when Microsoft Corp., which purchased the company in 2014, discontinued using the brand.
Lundmark also stated that Nokia will focus on increasing market share in the company’s business of providing network equipment to wireless service providers.
According to him, Nokia now has “the ammunition and the tools” to gain market share without losing profitability.
This has been aided by limitations on Huawei Technologies Co., a Chinese rival, after a number of European nations barred the company from supplying parts for 5G networks.
Nokia also intends to expand its business supplying private 5G networks to businesses.
The enterprise business accounted for 8% of Nokia’s revenue last year, and the CEO stated that the next goal is to take the business “to double-digit” territory, mostly through organic growth and smaller acquisitions.
Yet, Nokia ruled out following in the footsteps of its main competitor Ericsson AB, whose $6.2 billion acquisition of Vonage Holdings Inc. was motivated by a similar desire to expand on the enterprise side.
Nokia just recovered its investment-grade BBB- rating from S&P Global Ratings, putting an end to a more-than-decade-long stint in junk territory. Nonetheless, Lundmark believes there is more work to be done, particularly in terms of the company’s operational margins.
“We are not happy yet with where we are,” he said.
