Nokia has had huge success when it created breakthrough mobile phones and tech. But that seemed like ages back.
A Look at the rebranding efforts
While the Finnish brand is still popular, Nokia is set to rebrand itself. A brand new logo is in the offing. Pekka Lundmark, CEO of Nokia believes that the new logo is a sign of rebranded Nokia. The logo was announced at the Mobile World Congress being held in Barcelona, Spain.
Currently, Nokia is eying to make telecom related equipment. Therefore, the brand identification and a new logo in over six decades. Nokia’s Oyj, that manufactures 5G tech, altered its emblem.
Newer sets of strategic establishments are being used to facilitate quick expansion. Lundmark added, “We are still a popular mobile phone brand in most people’s eyes, but this is not what Nokia is about.”
What the brand currently eyes?
The brand is set to emphasize building of networks as well as industrial digitalization over and above traditional mobile phones.”
Currently, HMD Global Oy continues to sell mobile devices with the Nokia brand. Once Microsoft Corp., who acquired the company in 2014, stopped using the name, HMD obtained the rights.
Nokia, according to Lundmark, will be concentrating in expanding the share in network equipment selling over to wireless providers. Nokia now possesses means for increasing its share and also to maintain profit margins.
Nokia is seemingly coming on the forefront as on Huawei its Chinese competitor saw prohibition in selling components needed to run networks on 5G.
Nokia now has an intention for accelerating its expansion of business for private networks. It enterprise division brought in 8% of its total revenue in the previous year.
Summing up
It is currently willing to develop this division for reaching the double figure mark using growth measures organically as well as via small acquisitions.
