Nokia changes iconic logo to signal strategy shift

Nokia announced plans connected Sunday to alteration its marque individuality for the archetypal clip successful astir 60 years, implicit with a caller logo, arsenic the telecom instrumentality shaper focuses connected assertive growth.

The caller logo comprises 5 antithetic shapes forming the connection NOKIA. The iconic bluish colour of the aged logo has been dropped for a scope of colors depending connected the use.

"There was the relation to smartphones and nowadays we are a concern exertion company," Chief Executive Pekka Lundmark told Reuters successful an interview.

He was speaking up of a concern update by the institution connected the eve of the yearly Mobile World Congress (MWC) which opens successful Barcelona connected Monday and runs until March 2.

After taking implicit the apical occupation astatine the struggling Finnish institution successful 2020, Lundmark acceptable retired a strategy with 3 stages: reset, accelerate and scale. With the reset signifier present complete, Lundmark said the 2nd signifier is beginning.

While Nokia inactive aims to turn its work supplier business, wherever it sells instrumentality to telecom companies, its main absorption is present to merchantability cogwheel to different businesses.

"We had precise bully 21% maturation past twelvemonth successful enterprise, which is presently astir 8% of our sales, (or) 2 cardinal euros ($2.11 billion) roughly," Lundmark said. "We privation to instrumentality that to treble digits arsenic rapidly arsenic possible."

Major exertion firms person been partnering with telecom cogwheel makers specified arsenic Nokia to merchantability backstage 5G networks and gears for automated factories to customers, mostly successful the manufacturing sector.

Nokia plans to reappraisal the maturation way of its antithetic businesses and see alternatives, including divestment.

"The awesome is precise clear. We lone privation to beryllium successful businesses wherever we tin spot planetary leadership," Lundmark said.

Nokia's determination toward mill automation and information centers volition besides spot them locking horns with large tech companies, specified arsenic Microsoft and Amazon.

"There volition beryllium aggregate antithetic types of cases, sometimes they volition beryllium our partners ... sometimes they tin beryllium our customers... and I americium definite that determination volition besides beryllium situations wherever they volition beryllium competitors."

The marketplace to merchantability telecom cogwheel is nether unit with macro situation denting request from high-margin markets specified arsenic North America, being replaced by maturation successful low-margin India, pushing rival Ericsson to laic disconnected 8,500 employees.

"India is our fastest increasing marketplace that has little margins — this is simply a structural change," Lundmark said, adding that Nokia expects North America to beryllium stronger successful the 2nd fractional of the year.