Nokia Unveils New Branding Initiative and Products to Expand Enterprise and Telecom Business Growth with new LOGO

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Nokia has announced a new branding, marketing, and operational initiative aimed at expanding its presence beyond the consumer device market. As part of the initiative, Nokia unveiled a pair of new telecom and enterprise-focused products to kick off these efforts. The new branding initiative involves Nokia carving up its name to signify the need for greater collaboration across the market. Nokia CEO Pekka Lundmark explained that when the different letters of the name are put together, it spells out "Nokia".

Beyond new fonts and colors, Lundmark also outlined the pillars and enablers the company will use to complete its three-year turnaround plan. The first pillar is Nokia's push to grow its communication service providers (CSP) business faster than the market, with a focus on taking share from competitors as the market is forecast to grow at a 1% compound annual growth rate (CAGR) through 2026. Lundmark expressed confidence in the vendor gaining market share as "geopolitical tailwinds continue to favor us" in the ongoing push by many Western governments to remove legacy telecommunications equipment and prevent new equipment from Chinese vendors.

Lundmark also sees the enterprise space as another significant pillar to Nokia's future success, with the market expected to grow at an overall 8% CAGR through 2027, and a 27% growth CAGR tied to the private wireless space. Nokia wants to increase its enterprise-derived revenues from around $2 billion last year to double digits as quickly as possible, with the double digits seen as a floor rather than a ceiling.

Nokia's new branding initiative, coupled with its focus on growing its CSP and enterprise businesses, suggests the company is looking to broaden its horizons and compete more aggressively with its rivals. Whether Nokia will be successful in its efforts to expand its presence beyond the consumer device market remains to be seen, but the company seems confident in its ability to do so