Nokia New Logo: Nokia is a technology and software company that has flourished in the tech sector for more than eight decades now. The company has never changed its logo since the first time it was launched. However, the tech giant has finally decided to make a change and represent a new logo for Nokia.
Nokia New Logo
Nokia New Logo: Nokia announced the plan of launching a new logo on Sunday that will change the company’s identity. The company will now focus on its aggressive growth and it has represented the new motive with the change in its logo.
The company’s new logo comprises five different shapes that are coincided together to form the word NOKIA. The company has removed its old blue font color with multiple colors in its logo.
Source: Nokia
Source: Nokia
Lundmark on Nokia New Logo
Nokia New Logo: Chief Executive of the company Pekka Lundmark said during an interview that “There was an association to smartphones and nowadays we are a business technology company”. He spoke for the company at the Mobile World Congress (MWC) event held in Barcelona on Monday.
Lundmark devised a three-stage strategy in 2020 after assuming leadership of the faltering Finnish business. The stages were reset, accelerate, and scaled. Lundmark stated that the second stage has started now that the reset stage is over.
Nokia’s primary focus is now on selling equipment to other firms, though it still hopes to expand its service provider sector, where it sells equipment to telecom companies.
Chief Executive Lundmark says, “We achieved really good 21% growth in enterprise last year, which is presently about 8% of our revenues, (or) 2 billion euros ($2.11 billion) roughly.” We want to increase that to double digits as soon as we can.
To sell private 5G networks and equipment for automated factories to consumers, particularly in the manufacturing sector, major technology companies have partnered with telecom equipment manufacturers like Nokia.
The company is looking forward to putting other initiatives as their priorities including divestment. The company plans to do business only in the fields where it sees global leadership.
Competition with Tech Giants
Nokia is also looking towards automation and the data centers will also compete with big tech giants including Microsoft and Amazon. With the development in low-margin India replacing demand from high-margin areas like North America, the market for telecom equipment is under strain, forcing competitor Ericsson to lay off 8,500 workers.
There is a fundamental change, but India is our fastest-growing market with lower margins,” Lundmark said, adding that Nokia anticipates North America to perform better in the second part of the year.
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