Nokia changes logo for first time in 60 yrs to signal strategy shift

WASHINGTON: For the first time in 60 years, Finnish tech multinational Nokia has changed its logo as it focuses on faster growth and signals a new strategy shift.

According to GSM Arena, a tech news-related website, this change comes after Pekka Lundmark took over Nokia's telecom equipment arm, the CEO laid out a three-phase plan - reset, accelerate and scale.

The blue hue will no longer be used by Nokia; instead, it will be replaced with whichever shade is better fitting for the circumstance. As a result, no particular colour scheme has been assigned.

Lundmark said that Nokia is no longer just a smartphone company, but a "business technology company," reported GSM Arena.

Nokia will concentrate on selling equipment to other businesses in addition to expanding its telecom equipment business.

These include tools for automated manufacturing and private 5G networks, which would put the business in direct competition with Microsoft and Amazon in the market. Nokia is contemplating expanding and developing in further sectors, mentioned Lundmark, as per GSM Arena.