Finnish manufacturer of 5G equipment Nokia Oyj has completely redesigned their website logo to stop people Associating it Mobile phones — a business it It was almost gone decade ago.
On Sunday, the brand redesign was announced along with a new set of strategic pillars. to As the world adopts more fifth-generation mobile technology, it will enable greater growth.
“In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about,” Pekka Lundmark, Chief Executive Officer of Pekka’s Office spoke in an interview before the Mobile World Congress in Barcelona this Sunday. “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.”
Lundmark stated that Nokia will focus on adding market share in the company’s business serving wireless service providers with network equipment. Nokia You can now “the ammunition and the tools” to He said that it was possible to gain market share while not sacrificing margins. That’s been helped by restrictions on Chinese rival, Huawei Technologies Co., after a number of European governments blocked the company from selling parts for 5G networks.
Nokia Also, you want to It is expanding its sales of private 5G networks to increase growth to companies. An 8% market share was achieved by the enterprise business Nokia’s top line last year, and the next target is to Push the business “to double-digit” The CEO stated that the company will expand its territory primarily through organic growth, as well as smaller acquisitions.
Still, Nokia Ericsson AB’s $6.2 Billion acquisition of Vonage Holdings Corp. was sparked in a similar goal. Ericsson AB has ruled it out. to Grow on the business side.
Nokia recently regained an investment-grade BBB- rating from S&P Global Ratings, ending its more than decade-long slog in junk territory. Lundmark still sees more work to do, particularly on the company’s operating margins.
“We are not happy yet with where we are,” He said.
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