On Sunday, Nokia, the Finnish multinational smartphone giant, changed its brand identity after almost half a century. The move marked a major makeover from the iconic ‘NOKIA’ branding to a whole new focus on aggressive growth.
Pekka Lundmark took the helm of Nokia’s telecom equipment arm in 2020 laying a well-thought-out three-phase plan – reset, accelerate, and scale. The first phase is over with Nokia marking a major shift from a dying brand to a buzzing brand.
With the change in the logo, the new ‘five different shapes’ formed the word ‘NOKIA’ that now changes Nokia from just a smartphone company to a business technology company. The logo doesn’t have any color scheme attached to it but rather an upgraded logo signaling how the tech giant will aggressively accelerate.
Nokia reported 2 billion euros in sales, recording a 21% growth last year. Nokia has plans to set its focus on selling gear such as 5G equipment for automated factories. It will set Nokia as one of the major competitors to Amazon and Microsoft at the moment. It is also considering divestment on its way to ensure the growth of its businesses. Lundmark added that Nokia wants to achieve global leadership as a result of its strategic shift.
