Nokia is a Finnish multinational corporation that has operated in various industries over the past 150 years. Nokia has contributed to the mobile phone industry, assisting in the development of the GSM, 3G, and LTE standards.
In 2014, Nokia sold its mobile phone business to Microsoft, but brought it back in 2016. All the Nokia phones on the market today are produced and sold by HMD Global Oy, which is also based in Finland, but it’s a separate company from Nokia.
Yesterday, Nokia announced their brand revamp by abandoning the use of blue colour and instead opting for a more contextually suitable colour scheme, without any fixed colour pattern. According to Pekka Lundmark, Nokia’s CEO, the company is no longer solely focused on smartphones, but rather positioned as a “business technology company”.
The CEO has outlined a plan consisting of three phases: reset, accelerate, and scale. With the completion of the initial phase, Nokia is now concentrating on accelerating and is taking a significant step towards signalling the change in strategy by introducing a new logo, which is the first change made to the logo in 60 years.
Apart from expanding its telecom equipment business, Nokia plans to emphasize on marketing its products to other companies. This will include the sale of private 5G networks and equipment meant for automated factories.
These steps will allow Nokia to position itself as a competitor to Microsoft and Amazon in the relevant market. Lundmark also stated that Nokia is exploring the possibility of expanding into other areas.
