Nokia has announced a brand identity refresh and strategy shift after nearly 60 years, complete with a new logo design.
The logo, which signals a new dawn for Nokia, is minimalistic in design. The traditional blue colour of the former Nokia logo gives way to a range of colours that changes depending on how the logo is used.
Chief Executive Officer Pekka Lundmark outlined the next phase of Nokia’s growth strategy in a company blog post.
After taking over the Finnish company, Lundmark announced a three-stage strategy in 2020: reset, accelerate and scale. Following the completion of the reset stage, the company is now moving on to acceleration.
Lundmark refers to the company asserting leadership in network technology and growing as a B2B service provider, selling technology solutions and helping businesses harness the power of networks.
“Networks are the catalysts for change, fuelling the innovation that can transform businesses, society and the world. And they have the exponential potential to solve some of the biggest challenges we face today whilst offering organizations new ways to achieve their sustainability goals,” said Lundmark.
Hoping to accelerate the growth pattern through “organic growth and smaller acquisitions,” Nokia is opting for a different strategy than its competitor Ericsson which acquired Vonage Holdings Corp. for $6.2 billion in an attempt to further itself as an enterprise. However, Ericsson has recently been forced to lay off 8,500 employees globally in an effort to cut costs.
“In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about. 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,” explained Lundmark ahead of the annual Mobile World Congress in Barcelona.