New Delhi: As part of its drive to rapidly expand into the telecom equipment sector, Nokia on Sunday unveiled plans to overhaul its brand identity for the first time in nearly 60 years, including a new logo. As per a recent update, Nokia Oyj, the Finnish maker of 5G technology, has updated its logo.
The redesigned brand was unveiled today, Sunday, with a new set of strategic pillars to facilitate rapid expansion as the world rapidly adopts fifth-generation mobile technology. ,Also Read: Kissing Device: Now Long Distance Couples Can Share Virtual Intimate Moments,
“We are still a popular mobile phone brand in the eyes of most people, but it’s not about Nokia,” CEO Pekka Lundmark made the comments in an interview ahead of Mobile World Congress in Barcelona on Sunday. ,Also read: From SBI to BOB: Here are 5 public sector bank FDs compared – Check latest fixed deposit rates for senior citizens,
“We aim to introduce a new brand that emphasizes network and industrial digitization, which is vastly different from traditional mobile phones.”
HMD Global Oy continues to sell mobile devices with the Nokia brand. Once Microsoft Corp., which acquired the company in 2014, stopped using the name, HMD acquired the rights.
According to Lundmark, Nokia will focus on increasing its market share in the industry of selling network equipment to wireless service providers. Nokia now has “the means and the weapon”. To increase market share while maintaining profit margin, he claimed.
The ban on a Chinese competitor, Huawei Technologies Co, helped, as the business was banned by several European governments from selling components for 5G networks.
Nokia also intends to accelerate the expansion of its business providing businesses with private 5G networks. The enterprise division contributed 8% to Nokia’s revenue last year, and the next objective is to grow the division into “double-digit” territory, mostly through organic growth and smaller acquisitions, the CEO said.