The Finnish company Nokia announced today, Sunday, February 26, 2023, plans to change its brand identity for the first time in nearly 60 years with a new logo, so that the communications equipment manufacturer focuses on restoring strong growth in technology.
The new logo includes 5 different shapes that form the word "Nokia", and the distinctive blue color of the old logo has been changed to a group of other colors.
Nokia CEO Pekka Lundmark told Reuters, "There used to be a lot of Nokia being associated with smartphones, but nowadays we are a technology business."
Lundmark's talk about modernizing Nokia's business came on the eve of the annual Mobile World Congress (MWC), which opens in Barcelona on Monday and runs until March 2.
After taking over the top job at the troubled Finnish company in 2020, Lundmark put together a 3-phase strategy: repositioning, acceleration and scale change.
With the reset phase complete, Lundmark said the second phase has begun.
While Nokia still aims to grow its service provider business, selling equipment to telecom companies, its main focus is currently selling equipment to other companies.
Big tech companies have partnered with telecom equipment makers such as Nokia to sell private 5G networks and technical equipment for automated factories to customers, most of them in the manufacturing sector.
The Finnish company plans to review the growth trajectory of its various businesses and consider alternatives, including divestment.
"The signal is very clear," Lundmark said. "We just want to be in businesses where we can see global leadership."
It is expected that Nokia's move towards automating factories and data centers will put it in confrontation with major technology companies, such as Microsoft and Amazon.