Nokia Oyj, a Finnish manufacturer of 5G technology, has changed its logo to avoid being associated with mobile phones, a sector it left almost ten years ago.
The redesigned logo was unveiled on February 26 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.
In an interview conducted before the Mobile World Congress in Barcelona on Sunday, Nokia's CEO Lars Lundmark remarked, "In most people's perceptions, we are still a successful mobile phone brand, but this is not what Nokia is about. We intend to introduce a new brand that places a strong emphasis on networks and industrial digitalization, which are entirely unrelated to outdated mobile phones.
HMD Global Oy continues to sell mobile devices with the Nokia brand. Once Microsoft Corp., which acquired the company in 2014, stopped using the name, HMD obtained the rights.
Nokia, according to Lundmark, would concentrate on expanding its market share in the industry of selling network equipment to wireless service providers. He claimed that Nokia now had "the weapons and the tools" to increase market share without reducing profit margins. Restrictions on Huawei Technologies Co., a Chinese competitor, helped with this because the business had been prohibited from selling components for 5G networks by a number of European governments.
Nokia also intends to accelerate the expansion of its business providing businesses with private 5G networks. The CEO stated that the enterprise division's next goal is to develop the division "to double-digit" levels, mostly through organic growth and smaller acquisitions. The enterprise division attained an 8% proportion of Nokia's top line last year.
However, Nokia decided against following in the footsteps of its main rival Ericsson AB, whose US$6.2 billion purchase of Vonage Holdings Inc. was motivated by a similar desire to expand its enterprise business.
The tamilgun is a free public website that allows you to search for guides and it is sharing information about the business, education, finance and technology.