Spain’s BARCELONA One of the biggest equipment manufacturers in the world, Nokia, has revealed a new branding, marketing, and operational strategy that it thinks will grow the brand’s position as a consumer device-focused one. To start off those efforts, it also launched a pair of new telecom and enterprise-focused products.
Nokia CEO Pekka Lundmark said
Nokia’s latest branding strategy actually carves its name up to represent the need for broader market participation. At a press conference held soon before the MWC Barcelona 2023 event. Nokia CEO Pekka Lundmark said, “When you take the different letters, which are kind of stick-like, and you put them together, everyone sees that it spells Nokia.”
Lundmark provided the vendor with more than just a fresh typeface and colour scheme. He also spelled out the pillars and enablers that he will employ to complete his three-year turnaround plan.
Nokia’s goal to expand its communication service providers (CSP) business at a faster rate than the market is the first pillar Lundmark unveiled. The market is anticipated to expand at a 1% compound annual growth rate (CAGR) through 2026. Which, according to Lundmark, “puts the onus on Nokia to capture share from our competitors.”
Lundmark added that
“our portfolio is now substantially more competitive than it was a few of years ago,” and that “I feel there is now a unique chance for us to achieve that in the next few years.”
This may have been a subtle allusion to the fact that operators had stopped doing business with Nokia. As a result of what some claimed was subpar equipment performance in comparison to competitors like Huawei, Ericsson, and Samsung. The removal of Nokia equipment from Verizon’s initial 5G roll out was the most widely publicised of them.
Later, Lundmark underlined that Nokia expects all of its growth to come from inside, with any acquisitions serving as a complement.
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Additionally, Lundmark expressed certainty that the vendor would increase its market share since “geopolitical tailwinds continue to favour us.” This is a reference to the continuing campaign by many Western countries to remove outdated communications infrastructure. And block the installation of new infrastructure from Chinese suppliers like Huawei and ZTE.
The enterprise market, according to Lundmark, is yet another important pillar of Nokia’s future success. Through 2027, that market is anticipated to expand at an average CAGR of 8%. With the private wireless sector predicted to experience a more notable CAGR of 27%.
