Blog Post

Ritelink Blog > News > BUSINESS > Nokia Rebrands – Announces A Change In Its Business Strategy, As Well As A Logo Redesign After 60 years

Nokia Rebrands – Announces A Change In Its Business Strategy, As Well As A Logo Redesign After 60 years

Pekka Lundmark, Nokia’s CEO, stated in an announcement today that the Finnish firm was going forth with a shift in strategy, and with that shift comes a change in the logo. The iconic shapes that the company stuck around with for 60 years have gone through a metamorphosis, so let us get into the details.

Nokia CEO says that people still believe that the company is a successful mobile phone brand

The previous Nokia logo featured a ‘Yale blue’ look, which stuck around for six decades and provided consumers with some of the most iconic handsets. Unfortunately, not everything lasts, and with the smartphone market dominated by Apple, Samsung, and others, Nokia slowly withered into oblivion, though people still believe that the company exists as a popular mobile phone brand, according to Chief Executive Lundmark.

The shift in brand identity also changes the way Nokia chooses to do business. Lundmark claims that the new brand wants to focus more on networks and industrial digitalization, which is different from launching legacy mobile phones. For those that do not know, HMD Global licenses the Nokia brand name to mass produced Android-powered smartphones in several markets. Apart from launching some decent handsets over the years, HMD Global has found its way to square one again.

Fortunately for Nokia, Lundmark sees a ton of opportunity in the enterprise world, stating that the firm had a 21 percent growth last year, which is equal to 8 percent of its sales, or 2 billion euros, or around $2.11 billion. The CEO appears ambitious, as he says that he wants to take those earnings to the double-digit mark. Nokia’s Devices and Services division got acquired in 2014 by Microsoft for a whopping $7 billion. The software giant tried to keep its mobile arm running but ultimately shut it down, bringing an end to its smartphone operating system.

However, that has not deterred Nokia from continuing to launch smartphones as the G22 was also announced today, though it is catered to consumers who do not have the financial capacity to splurge on expensive devices. Hopefully, HMD Global can work with conviction to launch smartphones that are more competitive in various categories and features.

News Source: Nokia

Leave a comment

Your email address will not be published. Required fields are marked *