Finnish Tech multinational Nokia has changed its logo for the first time in 60 years, signals a new strategy shift as it focuses on faster growth.This change came after Pekka Lundmark took over Nokias telecom, the CEO laid out a three-phase plan: reset, accelerate and scale.This time the blue hue will no longer will be used by Nokia. Instead, it will be replaced by the colour whichever suits the circumstances. As a result, no particular colour has been assigned to its logo.Lundmark said that Nokia is no longer a smartphone company but a business technology company. Nokia will not concentrate on selling equipment to other businesses in addition to expanding its telecom equipment business.They include private 5G networks and automated manufacturing tools, putting the company in direct conflict with Microsoft and Amazon. According to Lundmark, Nokia is thinking about growing and developing in more industries, as per report. The enterprises sector has provided 8 percent of Nokias sale last year and the CEO stated that the next goal is to grow the division to double-digit territory.Lundmark stated that the main objective of Nokias is to increase its market share in the industry of giving cellular service providers network equipment. Nokia now had “the means and the artillery,” he claimed, to increase market share while maintaining profit margins.This was made possible by restrictions placed on Huawei Technologies Co., a Chinese rival, because the business was prohibited from providing 5G network components by a number of European countries.However, this logo will not be seen on Nokia products before 2024. Because the existing products will be sold with the old logo only.CEO Lundmark said, “We see the potential of digital to transform business, industry and society with an opportunity for significant gains in productivity, sustainability, and accessibility. Our market-leading critical networking technology is increasingly needed by customers and partners in every industry. We see a future where networks go beyond connecting people and things. Theyre adaptable, autonomous and consumable. They are networks that sense, think and act, and they maximise the opportunity of digitalisation.”“Today we share our updated company and technology strategy with a focus on unleashing the exponential potential of networks – pioneering a future where networks meet cloud. To signal this ambition, we are refreshing our brand to reflect who we are today – a B2B technology innovation leader. This is Nokia, but not as the world has seen us before,” the CEO added.“The signal is very clear. We only want to be in businesses where we can see global leadership,” he said.The maker of Nokia phones- HMD, said that India is a key market for the company, not only from an investment perspective but also a source to increase devices for import. in 2023, company is planning to export India made features and smartphone to many countries, having started featured phone exports to United Arab Emirates recently.Nokia signs pact with MTN to expand 5G in South AfricaApart from the logo change, for the first time ever, MTN South Africa has chosen Nokia as one of its 5G radio access network equipment suppliers as the mobile provider broadens next-generation wireless services throughout the nation.According to the agreement, Nokia will update the current 2G, 3G, and 4G radio networks and expand MTNs 5G radio network across 2,800 stations in the countrys central and eastern regions.MTN South Africa, the second-largest provider in the nation, purchased airwaves in a 14.4-billion-rand spectrum auction in March of last year for 5.2 billion rand (282.66 million dollars). It had already started offering 5G services in a few places before the auction.
