Nokia announced plans Sunday to change its brand identity for the first time in nearly 60 years, with a new logoas the telecommunications equipment manufacturer focuses on aggressive growth in a different line of business.
The new logo consists of five different shapes that make up the word NOKIA. The iconic blue color of the old logo has been replaced by a range of colors depending on usage.
Why is it changing?
According to the voice of its own CEO, Pekka Lundmark, this is due to a paradigm shift.
“There was the association with smartphones and today we are a commercial technology company,” he told Reuters in an interview.
After taking the top job at the struggling Finnish company in 2020, Lundmark laid out a strategy with three stages: reboot, accelerate and scale. With the restart stage now complete, Lundmark said the second stage is beginning.
Nokia plans to review the growth path of its various businesses and consider alternatives, including divestment.
While Nokia still aims to grow its service provider business, where it sells equipment to telecommunications companies, its main focus now is to sell equipment to other companies.
Major technology companies have partnered with telecommunications equipment manufacturers such as. Nokia to sell private 5G networks and equipment for automated factories to customers, primarily in the manufacturing sector.
The movement of Nokia towards factory automation and data centers will also make them take on the big tech companies, such as Microsoft and Amazon.
We recommend METADATARPP’s technology podcast. News, analysis, reviews, recommendations and everything you need to know about the technological world.