Summary: Nokia has rebranded for the first time in 60 years to replicate its place as a B2B expertise innovation chief, and never a cellphone firm anymore. The firm’s new technique and refreshed model replicate its renewed concentrate on networking expertise, innovation, collaborative partnerships, and expertise management. Nokia’s previous failures have taught the firm precious classes, resulting in its transformation right into a B2B expertise chief.Nokia has give you a brand new brand, unveiling its refreshed model for the first time in 60 years, reflecting its place as a B2B expertise innovation chief pioneering the future the place networks meet cloud. And additionally reminding the world that it’s now not a cellphone firm.“We built on the heritage of the previous logo, but made it feel more contemporary and digital, to reflect our current identity,” wrote CEO Nokia in an official weblog.The firm is accelerating into the subsequent part of its technique and is now laying the basis for the scale part, delivering sturdy development and steady profitability whereas broadening its buyer base. The new visible identification captures Nokia as it’s at this time, with renewed power and dedication as pioneers of digital transformation.The new technique is underpinned by six strategic pillars, together with rising market share with service suppliers and increasing the share of enterprises inside the buyer combine. Nokia may also proceed to handle its portfolio actively to make sure a path to a number one place in all segments the place it decides to compete.In the replace, Pekka Lundmark, CEO of Nokia, stated,“It’s about our people. In my view Nokia has the best, most talented and inspiring people in the business. Every day I feel privileged to work alongside them.So Nokia’s leadership team and I wanted to create a new brand that worked for them, representing who they are, what they do and why they do it. Our refreshed brand is an investment in them. This is Nokia … but not as the world has seen us before.”Nokia’s previous failures have taught the firm precious classes, resulting in its transformation right into a B2B expertise chief. The firm’s refreshed model represents “an investment in its people” and its worth propositions in present and potential markets.What occurred to Nokia’s cellular enterprise?New brand at Nokia headquarters, Image through NokiaNokia offered its cell phone enterprise, which included the Lumia (smartphones) and the Asha (function telephones) manufacturers, for $7.2 billion to Microsoft in 2014. As a part of the deal, Microsoft acquired the Lumia model title, together with the design and manufacturing rights for the Lumia smartphones. The deal additionally included the proper to make use of the Nokia model on its function telephones for a restricted interval.However, in May 2016, Microsoft offered the function cellphone enterprise to FIH Mobile, a subsidiary of Foxconn, and HMD Global, a Finnish firm, acquired the rights to make use of the Nokia model on cell phones and tablets for 10 years. Since then, HMD Global has been producing and promoting Nokia-branded smartphones and have telephones powered by Android OS.Just so you already know…Nokia was as soon as a worldwide chief in cell phones, with a market share of over 40% in 2007. However, it didn’t anticipate the shift in direction of smartphones and the emergence of rivals comparable to Apple and Samsung. Instead of going with a well-liked selection then, Nokia determined to go along with Microsoft’s Windows Mobile and refused to take Android as their smartphone working system. The firm offered its cellphone enterprise to Microsoft in 2013 and later pivoted to concentrate on networks and infrastructure.In 2016, Nokia additionally suffered a setback when it acquired rival telecom tools maker Alcatel-Lucent for $16.6 billion. The integration proved a failure, and the acquisition couldn’t assist Nokia enhance its fortunes as anticipated.Since then, Nokia has undergone a reset part, altering its working mannequin and adopting new cultural necessities of being “Open, Fearless, and Empowered.” It has additionally outlined its objective as creating expertise that helps the world act collectively. And now, with this rebranding announcement at MWC 2023, the firm affirms that it’s now not a cellphone firm.