Nokia changes logo for the first time in nearly 60 years, signals strategy shift

Nokia New Logo 2023: Nokia, a smartphone and telecom equipment manufacturer, has decided to change its logo for the first time in nearly 60 years. The new logo was launched by CEO Pekka Lundmark on Sunday. The company has also announced plans to change its brand identity and how it will focus aggressively on growth.

The new logo comprises five different shapes forming the word NOKIA. Also, the company has dropped the iconic blue colour and now there's a range of colours depending on the use.

"There was the association to smartphones and nowadays we are a business technology company," Chief Executive Pekka Lundmark was quoted as saying by Reuters.

Nokia announced the new logo on the eve of the annual Mobile World Congress (MWC) which opens in Barcelona on Monday and runs until March 2.

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Lundmark took over the top job at the struggling Finnish company in 2020. He, at that point in time, had set out a strategy with three stages: reset, accelerate and scale.

Lundmark said that the reset stage is now complete and the second stage is beginning.

The company still aims to grow its service provider business, where it sells equipment to telecom companies, but the main of Nokia is now to sell gear to other businesses.

Major technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G networks and gears for automated factories to customers, mostly in the manufacturing sector.

Nokia plans to review the growth path of its different businesses and consider alternatives, including divestment.

With agency inputs