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Nokia unveils a new logo for the first time in 45 years

During the Mobile World Congress in Barcelona, telecommunications company Nokia announced a logo refresh to distance itself from what it's mostly known for; producing smartphones.

"In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about,” said Pekka Lundmark, President and CEO of Nokia in an interview with Bloomberg. "We want to launch a new brand that is focusing very much on the networks and industrial digitalization, which is a completely different thing from the legacy mobile phones."

While Nokia phones are still available today, these are sold by Finnish mobile phone manufacturer HMD Global Oy. Just yesterday, HMD announced the Nokia G22, a phone that can easily be repaired by its owner.

The new logo is a significant departure from the iconic one that the company has used since 1978. According to its press release, the new logo is something "emblematic of an energized, dynamic, and modern Nokia."

"It has been designed as a symbol of collaboration, which Nokia believes to be critical for realizing the exponential potential of networks: unlocking gains in sustainability, productivity, and accessibility."

Along with the brand refresh, Nokia also announced an updated company strategy. When Lundmark became the CEO of Nokia back in 2020, he set out a three-stage strategy: reset, accelerate and scale. As the reset stage is now complete, Lundmark said the second stage is beginning.

He said that Nokia will prioritize improving the market share in the company’s business by selling network equipment to wireless service providers. Nokia now has "the ammunition and the tools" to take market share without sacrificing margins, Lundmark stated.

Aside from this, the company is aiming to grow its business by selling private 5G networks to companies. Its enterprise business grew by 21% last year, equal to about 8% of its sales. Lundmark said that they aim to push that share to double digits as quickly as possible through smaller acquisitions and organic growth.

Source: Nokia and Bloomberg

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