Nokia announced an updated company and technology strategy, and unveiled a refreshed brand, as part of its strategic transformation — at MWC Barcelona 2023.
Nokia, one of the leading telecom equipment makers, did not enhance its guidance on revenue or profit in line with the new strategy and brand.
Nokia in a blog post said companies are looking to digitalization to improve efficiency, flexibility and productivity in a sustainable way. Networks are fundamental to this transformation, and Nokia is uniquely positioned with its best-of-breed portfolio across fixed, mobile and cloud networking technologies.
“We see the potential of digital to transform business, industry and society with an opportunity for significant gains in productivity, sustainability and accessibility. Our market-leading critical networking technology is increasingly needed by customers and partners in every industry,” Pekka Lundmark, President and CEO of Nokia, said.
“We see a future where networks go beyond connecting people and things. They’re adaptable, autonomous and consumable. They are networks that sense, think and act, and they maximize the opportunity of digitalization.”
Refreshed strategy
Nokia’s refreshed company strategy is focused on acceleration across six pillars:
#1 Grow market share with service providers, driven by continued technology leadership
#2 Expand the share of Enterprises within its customer mix
#3 Continue to manage its portfolio actively, to ensure a path to a leading position in all segments where it decides to compete
#4 Seize opportunities from sectors beyond mobile devices to monetize Nokia’s IP and continue to invest in R&D for Nokia Technologies
#5 Implement new business models, such as as-a-Service
#6 Develop ESG into a competitive advantage and become the “trusted provider of choice” in the industry
Nokia has four key enablers: develop future-fit talent; invest in long-term research, especially in key domains such as 6G; digitalize its own operations to further improve agility and productivity; and refresh the brand.
Technology strategy
Nokia’s new technology strategy details how networks will need to evolve to meet the demands of the metaverse era.
Nokia believes that the network will be the underlying fabric to everything digital where network performance and consumability will have equal weight and importance. The qualities of traditional networking will be required to integrate with the flexibility and scalability of cloud.
These networks that sense, think and act have the potential to bring the transformative power of networking to every industry.
Nokia is well positioned to lead this transformation through its portfolio and disruptive research from Nokia Bell Labs. Today at MWC, Nokia launched a new slate of products and services to demonstrate and enhance its technology leadership.
Brand refresh
Nokia is refreshing its brand to signal who it is today: a B2B technology innovation leader realizing the potential of digital in every industry. The brand asserts the value Nokia brings in networking expertise, technology leadership, pioneering innovation and collaborative partnership.
Nokia’s logo is emblematic of an energized, dynamic, and modern Nokia, demonstrating its values and purpose. It has been designed as a symbol of collaboration, which Nokia believes to be critical for realizing the exponential potential of networks: unlocking gains in sustainability, productivity, and accessibility.