Addis Ababa, Ethiopia (27 February 2023)
In a bold move towards aggressive growth, Nokia, the Finnish telecom equipment maker, has unveiled a new brand identity for the first time in almost six decades. The fresh logo, featuring five distinct shapes forming the word NOKIA, replaces the iconic blue color of its predecessor and ushers in a new era of innovation for the company.
With its sights set on doubling its enterprise sales – currently accounting for just 8% of its revenue – Nokia is ramping up its efforts to sell cutting-edge gear to other businesses. The company plans to review the growth path of its various business lines and weigh alternative options, including divestment, in its quest to remain a global leader in its industry.
Nokia’s forward-thinking strategy extends beyond telecom gear and towards the rapidly growing fields of factory automation and data centers. However, this ambitious plan brings the company face-to-face with big tech rivals such as Microsoft and Amazon, who are also competing to partner with telecom gear makers in selling private 5G networks and equipment for automated factories.
Through its rebranding initiative, Nokia has signaled its steadfast commitment to not only retain its position as a major player in the telecom equipment market but also to expand its presence in other industries. As the company enters its accelerated phase, it will be interesting to see how it navigates the challenges of increased competition and changing market dynamics.
Source: CNBC
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