Nokia changes iconic logo to signal strategic shift | – #Nokia #iconic #logo #signal #strategic #shift
BARCELONA, Feb 26 (Reuters) – Nokia ( NOKIA.HE ) on Sunday unveiled plans to complement its brand identity with a new logo for the first time in nearly 60 years as the telecoms equipment maker focuses on aggressive growth.
The new logo consists of five different shapes that make up the word NOKIA. The iconic blue of the old logo has been toned down for a range of colors depending on usage.
“There was an association for smartphones, and today we are a business technology company,” Chief Executive Pekka Lundmark told Reuters in an interview.
He was speaking ahead of the company’s business update ahead of the annual Mobile World Congress (MWC), which opened in Barcelona on Monday and runs until March 2.
2020After taking over the top job at the struggling Finnish company in , Lundmark defined a three-phase strategy: reset, accelerate and scale. Now that the reset phase is over, Lundmark said the second phase has begun.
While Nokia still aims to grow its service provider business, selling equipment to telcos, its main focus now is selling equipment to other businesses.
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“We had a very good 21% growth in the enterprise last year, which now represents about 8% of our sales, (or) about 2 billion euro (2.11 billion dollars),” said Lundmark. “We want to get it to double digits as quickly as possible.”
Big tech firms are partnering with telecom equipment makers like Nokia to sell private 5G networks and gear for automated factories to customers, mainly in the manufacturing sector.
Nokia plans to review the development path of its various businesses and consider alternatives, including investment.
“The signal is very clear. We only want to be in businesses where we can see global leadership,” said Lundmark.
Nokia’s move into factory automation and data centers will also see them tie up with tech giants such as Microsoft ( MSFT.O ) and Amazon ( AMZN.O ).
“There’s going to be a lot of different types of business, sometimes they’re going to be our partners … sometimes they’re going to be our customers … and I’m sure there will be situations where they’re going to be competitors.”
The telecommunications equipment sales market is under pressure with a macro environment dampening demand in high-margin markets such as North America, offset by growth in low-margin India, forcing rival Ericsson to cut 8,500 jobs.
“India is our fastest-growing market with lower margins — it’s a structural change,” Lundmark said, adding that Nokia expects North America to be stronger in the second half of the year.
($1 = 0.9482 euros)
Reporting by Supantha Mukherjee in Barcelona; Edited by Mike Harrison
Our standards: Thomson Reuters Trust Principles.
2023-02-26 17:38:24
Source – reuters
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