Nokia Alters Its Logo After 60 Years

HELSINKI: In the 60 years since its founding, Finnish telecommunications company Nokia has altered its emblem for the first time.

The corporation made a big announcement about its brand identity update on Sunday since it is concentrating on rapid expansion. It should be noted that the word NOKIA is formed from five different shapes in the new logo.

Pekka Lundmark, the company's chief executive, stated in an interview that although the company was formerly renowned for its connection to cellphones, "we are now a commercial technology company."

The three steps of the strategy—reset, accelerate, and scale—have been laid out by the Finnish company's chief executive. Nokia's primary objective is now to sell equipment to other organisations, though it still hopes to expand its service provider business.

Additionally, massive technology companies have been working with Nokia to create and market private 5G networks and equipment for automated factories to clients, mostly in the manufacturing industry. According to Lundmark, the company saw growth of 21% last year, or nearly 8% of sales, or $2.11 billion euros, and wants to boost that figure to double digits.

Nokia will be competing against major IT firms like Microsoft and Amazon as they move towards data centres and factory automation.

Established in 1865, the Nokia Corporation (formerly known as Nokia Oyj or simply "Nokia") is a multinational firm that specialises in consumer electronics, information technology, and telecommunications.

The main offices of Nokia are located in Espoo, Finland, which is part of the Helsinki metropolitan area, while the Pirkanmaa district of Tampere is where the firm was founded.

Nokia had yearly revenues of over €23 billion in 2020, employed about 92,000 people [6] in more than 100 nations, and conducted business in more than 130 nations. The Helsinki Stock Exchange and the New York Stock Exchange both list Nokia as a public limited corporation.

It peaked at 85th place in 2009 and is currently the 415th-largest company in the world by 2016 revenues, according to the Fortune Global 500.

It is a part of the stock market index known as the Euro Stoxx 50.

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