Nokia transitions into B2B tech firm

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 27 Feb 2023
Pekka Lundmark, Nokia president and CEO.
Pekka Lundmark, Nokia president and CEO.

Nokia has changed into a business-to-business (B2B) technology firm, as the Finnish company seeks to seize opportunities beyond mobile devices.

Pekka Lundmark, Nokia president and CEO, unveiled the new-look brand yesterday at Mobile World Congress (MWC) in Barcelona, saying the latest branding is being rolled out across its sites and assets.

“Today is another milestone. We are updating our strategy, and, as a key enabler, we are also refreshing our brand to reflect who we are today: a B2B technology innovation leader pioneering the future where networks meet cloud,” Lundmark writes in a blogpost.

Explaining the rationale for rebranding, Lundmark says Nokia is accelerating into the next phase of its strategy to deliver sustainable, profitable growth.

He writes: “Our updated company strategy is supported by our technology strategy, which details how networks will need to evolve to meet the demands of the metaverse era.

“As the world increasingly relies on connectivity, the qualities of traditional networking will be required to integrate with the flexibility and scalability of cloud.

“These are networks that go beyond connecting people and things. They’re adaptable, autonomous and consumable, with the potential to bring the transformative power of networking to every industry.

“We are well-positioned to lead this evolution in networks through our technology leadership and best-of-breed portfolio across fixed, mobile and cloud.”

Going forward, Lundmark says the company will have six strategic pillars:

  • Grow market share with service providers.
  • Expand the share of enterprises within the customer mix.
  • Continue to manage its portfolio actively, to ensure a path to a leading position in segments in which it competes.
  • Seize opportunities from sectors beyond mobile devices to monetise its IP and continue to invest in R&D for Nokia Technologies.
  • Implement new business models, such as as-a-service.
  • Develop ESG into a competitive advantage and become the “trusted provider of choice” in its industry.

In addition, Lundmark says: “Our new visual identity captures Nokia as we are today, with renewed energy and commitment as pioneers of digital transformation. We built on the heritage of the previous logo, but made it feel more contemporary and digital, to reflect our current identity.

“The brand was launched at MWC Barcelona and it is now being rolled out across our sites and assets. The website has a new look and feel already, and Nokia sites will begin transforming soon.

“But this isn’t just about what we look like. It’s about our strength in networking, innovation, collaborative partnerships and technology leadership. It’s about our value propositions in current and prospective markets. And most of all, it’s about our people.”

According to Lundmark, Nokia’s leadership team wanted to create a new brand that worked for employees, representing who they are, what they do and why they do it.

“Our refreshed brand is an investment in them. This is Nokia…but not as the world has seen us before.”