Subhechcha Ganguly 
As part of its drive for fast expansion in the telecom equipment sector, Nokia on Sunday unveiled its plans to overhaul its brand identification for the first time in nearly 60 years, including a new logo. Pekka Lundmark, the new CEO of Nokia’s telecom equipment division, set out a three-phase plan to “reset,” “accelerate,” and “scale” the company’s image in order to distance it from the mobile phone industry, which it departed almost ten years ago. The redesigned brand was unveiled on Sunday along with a new set of strategic pillars meant to facilitate speedier expansion as the world adopts fifth-generation mobile technology at an accelerating rate.
The word NOKIA is produced using five different shapes in the new logo. The new logo contains a variety of hues depending on its intended purpose, in contrast to the previous design’s signature blue colour.
According to Chief Executive Pekka Lundmark, “There was the association to cellphones and today we are a business technology company.” Nokia will concentrate on selling equipment to other businesses in addition to expanding its telecom equipment business. They include tools for automated manufacturing and private 5G networks, which would put the business in direct competition with Microsoft and Amazon in the market. Nokia is contemplating expanding and developing in further sectors, according to Lundmark.However, Nokia decided against following in the footsteps of its main rival Ericsson AB, whose $6.2 billion purchase of Vonage Holdings Inc. was motivated by a similar desire to expand its enterprise business.
Nokia just ended its more than ten-year struggle in junk status by regaining an investment-grade BBB- rating from S&P Global Ratings. Lundmark believes there is still more to be done, particularly with regard to the operational margins of the business.
