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| Nokia's new logo as part of its rebranding introduced at the Mobile World Congress 2023 (Image Source: Manila Bulletin/Nokia) |
Nokia announced at the Mobile World Congress (MWC) 2023 in Barcelona, Spain an updated company and technology strategy, and unveiled a refreshed brand as part of its long-term strategic transformation. Companies across every industry are looking to digitalization to improve efficiency, flexibility, and productivity in a sustainable way. Networks are fundamental to this transformation, and Nokia is uniquely positioned with its best-of-breed portfolio across fixed, mobile, and cloud networking technologies.
Nokia President and CEO Pekka 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. They’re adaptable, autonomous, and consumable. They are networks that sense, think and act, and they maximize the opportunity of digitalization. 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.”
Refreshed company strategy
Nokia continues to execute against its three-phased strategy to deliver sustainable, profitable growth. Having completed the reset phase, Nokia will continue to accelerate while laying the foundation for the scale phase as an undisputed technology leader and having broadened its customer base. Today’s announcement supports Nokia’s long-term financial targets which were re-iterated with Q4 2022 financial results. Nokia’s refreshed company strategy is focused on further acceleration across six pillars, namely:
• Grow market share with service providers, driven by continued technology leadership;
• Expand the share of Enterprises within its customer mix;
• Continue to manage its portfolio actively, to ensure a path to a leading position in all segments where it decides to compete;
• Seize opportunities from sectors beyond mobile devices to monetize Nokia’s IP and continue to invest in R&D for Nokia Technologies;
• Implement new business models, such as as-a-Service; and
• Develop ESG into a competitive advantage and become the “trusted provider of choice” in the industry.
To deliver these pillars Nokia has four key enablers: develop future-fit talent; invest in long-term research, especially in key domains such as 6G; digitalize its own operations to further improve agility and productivity; and refresh the brand.
Technology strategy
Nokia’s updated technology strategy details how networks will need to evolve to meet the demands of the metaverse era. As the world evolves to increasingly rely on connectivity, the network will become the underlying fabric to everything digital where network performance and consumability will have equal weight and importance. The qualities of traditional networking will be required to integrate with the flexibility and scalability of cloud. These networks that sense, think and act have the potential to bring the transformative power of networking to every industry. Nokia is well positioned to lead this transformation through its expansive best-of-breed portfolio and industry-leading disruptive research from Nokia Bell Labs. At MWC, Nokia launched a new slate of products and services to demonstrate and enhance its technology leadership.
Brand refresh
In line with its updated company strategy, Nokia is refreshing its brand to signal who it is today: a Business-to-Business (B2B) technology innovation leader realizing the potential of digital in every industry. The new brand asserts the value Nokia brings in networking expertise, technology leadership, pioneering innovation and collaborative partnership. The company’s new logo is emblematic of an energized, dynamic, and modern Nokia, demonstrating its values and purpose. It has been designed as a symbol of collaboration, which Nokia believes to be critical for realizing the exponential potential of networks: unlocking gains in sustainability, productivity, and accessibility.
