Nokia: Furthermore intends to evaluate the development of each of its operations and explore all available options, including divestment.
While the manufacturer of telecom equipment concentrates on ambitious growth, Nokia announced plans to alter its brand identify for the first time in 60 years on Sunday, complete with a new logo.
The word Nokia is represented by five different shapes in the new logo. Depending on the purpose, the previous logo’s signature blue colour has been replaced with a variety of colours.
According to Chief Executive Pekka Lundmark “There was the association to cellphones and today we are a business technology company.
On the eve of theAnnual Mobile World Congress (MWC), which begins in Barcelona on Monday and lasts until March 2, he was addressing before a business update by the company.
Lundmark devised a three-stage strategy in 2020 after assuming leadership of the faltering finnish business. The stages were reset, accelerate, and scale. 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.
According to Lundmark, “We achieved really good 21% growth in enterprise last year, which is today about 8% of our sales, (or) $2.11 billion) about. “We want to increase that to double digits as soon as we can.
“The signal is quite strong. We only desire positions in companies where we can observe global leadership “said Lundmark.
Nokia will be competing against major tech firms like Microsoft and Amazon as they move towards datacenters and factory automation.
According to Lundmark, Nokia’s fastest-growing market, India, has lower margins. This is a structural change, he added. Nokia anticipates North America to perform better in the second half of the year.
