Nokia changes iconic logo after 60 yrs to position itself as B2B tech leader

Finnish multinational telecommunications company Nokia has changed its brand identity for the first time in nearly 60 years as the company shifts its focus from traditional smartphone business to B2B technology. "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,” says Pekka Lundmark, CEO, Nokia.

The new brand logo was launched today at Mobile World Congress (MWC) Barcelona 2023 and it is now being rolled out across the company’s sites and assets. “The website also has a new look and feel – as you can see – and Nokia sites will begin transforming soon," says Lundmark.

The Mobile World Congress (MWC) started in Barcelona, Spain, on Monday and will go on till March 2. The new logo will have five different shapes and distinct colours that form the word Nokia, replaced with the old blue colour logo.

"This is Nokia, but not as the world has seen us before. Our new visual identity reflects who we are today – a B2B technology innovation leader pioneering digital transformation. We’re driving the future where networks meet cloud to accelerate digital across every industry and maximize the opportunities it offers," says the Finnish company.

From initially being a feature phone and smartphone leader to ushering into a B2B technology innovation player in networking, the 155-year-old tech company is primarily focussing on building networks to transform business, industry and society, it adds.

According to Pekka, having completed the reset phase, the company is now accelerating while laying the foundation for the scale phase, delivering strong growth and stable profitability while broadening our customer base.

He says going forward, 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 portfolio actively; and continue to invest in R&D for Nokia Technologies; implement new business models; and become the “trusted provider of choice”.

In Q4 (Oct-Dec) 2022, Nokia's net sales increased by 16%, while on a constant currency basis, its sales growth accelerated to 11% YoY. Its reported profit was EUR 3,152 million, compared to EUR 680 million in Q4 2021. The comparable net profit was EUR 929 million, compared to EUR 731 million in Q4 2021.

Nokia reported net sales worth $568 million in constant currency in Q4 2022 in India, up 116% as compared to $264 million in the year-ago period. The company attributed the strong growth in net sales in India to mobile networks, as 5G deployments started to ramp in the fourth quarter, it says. The company's optical networks net sales grew 21% on a constant currency basis, with growth driven primarily by Europe, Asia Pacific and India in the quarter.