Finnish telecoms equipment maker Nokia announced a name change on Sunday to reflect its current focus on reviving strong growth in technology.
"Our new visual identity embodies Nokia's renewed energy and commitment as a leader in digital transformation," CEO Pekka Lundmark said in a company blog.
After more than 60 years of the old Nokia logo, the new logo includes 5 different shapes that make up the word Nokia and changes the bright blue color of the previous logo to a range of different colours.
The new logo is based on the previous one, Lundmark explained, "but we made it more modern and digital to reflect our current identity."
The launch of the new brand comes on the eve of the opening of the Mobile World Congress 2023 in Barcelona, Spain, and the company has begun promoting the brand through its website and features.
According to Lundmark, the change is not only about the company's appearance, but also about the company's strength in communications, innovation, partnerships, and technology leadership. He also oversees the company's products in current and future markets.
Lundmark told Reuters in an interview that Nokia used to be associated with smartphones but is now a commercial technology company.
After acquiring the ailing company in 2020, Lundmark put together a three-pronged strategy: reposition, align, accelerate and upgrade. With the reprogramming and formatting phase complete, Lundmark said the second phase has begun.
While Nokia is still looking to grow its services business and sell devices to telecom operators, its primary focus is now on selling devices to other companies.
Big tech companies have partnered with telecoms equipment makers like Nokia to sell proprietary 5G networks and automated factory technology to customers, most of whom are in manufacturing.
The Finnish company plans to review growth paths for its various businesses and consider alternatives including: Divestment.
Nokia's move into factory and data center automation is believed to put it at odds with big tech companies like Microsoft and Amazon.