On Sunday, Nokia announced plans to change its brand identity for the first time in nearly 60 years, along with a new logo, as the Finnish multinational telecommunications equipment manufacturer eyed for aggressive growth moving forward.
The new logo was created with five different shapes forming the word “Nokia”. The company dropped the usage of its signature blue color of blue and changed to a variety of colors depending on the use.
Pekka Lundmark, the Chief Executive, told Reuters that the company is now a business technology company. He laid out three new strategies after taking over the top job of the struggling company: reset, accelerate, and scale.
At present, the reset stage is already complete, and the accelerated stage is just the beginning.
While Nokia maintains its goal to expand in the service provider business as it sells equipment to telecom companies, the main focus has been shifted to selling telecom gear to other businesses.
Last year, Nokia recorded growth by 21% in enterprises, which is currently about 8% of the sales, or about two billion euros. The CEO noted that he is looking to reach double digits as fast as possible.
Nokia now goes forward with factory automation and data centers, as it will partner with big companies like Microsoft and Amazon. He said that there would be many cases, and sometimes they would be partners, customers, or competitors.
The telecom gear market was under pressure with a macro environment that dampened demand from high margin markets like North America, replaced by the growth in India that has low margin.
Lundmark said that India was the fastest-growing market, although there was a low margin, and he also added that in North America, he expected the second half of the year to be stronger.