June 12, 2024

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Nokia rebrands, plans to attain market leadership via ancillary product

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One of the newly adopted purpose-driven logos

The leading global brand at the outset of the adoption of the Global Satellite Mobile Telecommunication, GSM, in Nigeria in 2000, Nokia, has dropped its iconic blue logo for a new multi-color and stylistic logo.

The Chief Executive of Nokia, a Finnish global company, Pekka Lundmark, while speaking on Sunday, in Barcelona, in preparation for the annual Mobile World Congress (MWC) which opens today Monday, said the rebranding was necessary to reflect the new mission and vision of Nokia.

Lundmark said, “there was the company association to smartphones and nowadays we are a business technology company,” hence the rebranding to reflect the new concept.

He said the company is now majoring in the supply of gear to technology companies who are mostly in dire need.

Dropped Logo

He explained that while Nokia still aims to grow its service provider business, who it sells equipment to telecom companies, its main focus now is to sell gear to other businesses.

Giving an overview of the company’s performance last year, and where he wishes to take the company this year, and years ahead, the Chief Executive enthused, “we had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly,” Lundmark said. “We want to take that to double digits as quickly as possible.”

When Pekka Lundmark, assumed office as the Chief Executive, in 2020, he set out a three-pronged approach for returning the company to profitability and restoring it as a global brand.

Lundmark described the three-pronged approach as, reset, accelerate, and scale. He said with the reset stage now completed, the second stage, accelerate, is just beginning.

He however emphasized that, Nokia still aims to grow its service provider business, where it sells equipment to telecom companies, its main focus now is to sell gear to other businesses.

Reuters

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