Nokia Revamps Iconic Logo For 1st Time In 60 Years. Reason Is...

New Delhi: As part of its drive for fast expansion in the telecom equipment sector, Nokia on Sunday unveiled its plans to overhaul its brand identification for the first time in nearly 60 years, including a new logo. According to recent updates, Nokia Oyj, a Finnish manufacturer of 5G technology, has updated its emblem.

The redesigned brand was unveiled today, on Sunday along with a new set of strategic pillars meant to facilitate speedier expansion as the world adopts fifth-generation mobile technology at an accelerating rate. (Also Read: Kissing Device: Now Long Distance Couples Can Share Virtual Intimate Moments)

"We are still a popular mobile phone brand in most people's eyes, but this is not what Nokia is about, "Pekka Lundmark, the chief executive officer, made these comments in an interview before Sunday's Mobile World Congress in Barcelona. (Also Read: From SBI to BoB: Here Are 5 Govt Bank FDs Compared-- Check Latest Fixed Deposit Rates For Senior Citizens)

"We aim to introduce a new brand that strongly emphasises networks and industrial digitalization, which is extremely different from the traditional mobile phones."

HMD Global Oy continues to sell mobile devices with the Nokia brand. Once Microsoft Corp., who acquired the company in 2014, stopped using the name, HMD obtained the rights.

Nokia, according to Lundmark, would concentrate on expanding its market share in the industry of selling network equipment to wireless service providers. Nokia now possesses "the means and the weapons." "to increase market share while maintaining profit margins, he claimed.

Restrictions on Huawei Technologies Co., a Chinese competitor, helped with this because the business had been prohibited from selling components for 5G networks by a number of European governments.

Nokia also intends to accelerate the expansion of its business providing businesses with private 5G networks. The enterprise division contributed 8% of Nokia's revenue last year, and the next objective is to develop the division "to double-digit "territory, mostly by means of organic growth and smaller acquisitions, the CEO added.