At MWC Barcelona 2023, Nokia announced a new company and technology strategy, along with a refreshed brand, as part of their long-term strategic advancement. Nokia recently secured a 10-year 5G contract with Antina in Singapore.
Nokia’s Strategy Announcement
In the past two years, Nokia has achieved many milestones. To ensure sustainable and profitable growth, we have revised our operating model and implemented new cultural essentials such as Open, Fearless, and Empowered. Above all, our purpose is to develop technology to help the world act together, said the company.
Want a glimpse of the exponential potential of networks and their power to transform the world? Come to our stand at #MWC23 to see the next big evolution of Nokia. pic.twitter.com/avTyEqqXq1
— Nokia #MWC23 (@nokia) February 26, 2023
Digital Transformation
Organizations from every sector are using digitalization to enhance performance, flexibility, and productivity in a sustainable way. Networks are essential for this change, and Nokia has a superior portfolio of fixed, mobile and cloud networking technologies.
A Refreshed Brand to Support Digitalization
A new identity has been revealed, emphasizing a commitment to producing cutting-edge B2B technology solutions to enable digital transformation in all sectors.
Nokia is refreshing their brand to reflect their identity as a technology innovation leader in the B2B context. The new logo symbolizes collaboration and the potential of networks to unlock gains in sustainability, productivity, and accessibility.
Nokia’s Refreshed Company Strategy
Nokia is executing a three-phased strategy to achieve sustainable and profitable growth. The reset phase is complete, and the company will continue to accelerate and lay the foundation for the scale phase, becoming an undisputed technology leader and broadening its customer base.
Nokia has set long-term financial targets and announced six pillars to deliver them:
- Grow market share with service providers
- Expand the share of Enterprises within its customer mix
- Manage its portfolio actively for a leading position in all segments
- Seize opportunities from sectors beyond mobile devices
- Implement new business models, such as as-a-Service
- Develop ESG into a competitive advantage
Nokia is also focused on four key enablers: developing future-fit talent, investing in research, digitalizing operations, and refreshing the brand.
Technology Strategy
Nokia has updated their technology strategy to explain how networks must adapt to the metaverse era. Networks must combine the traditional qualities of networking with the scalability of cloud to meet the demands of digital connectivity.
That can sense, think, and act have the potential to transform every industry. Nokia is in a prime position to lead this transformation with their expansive product portfolio and research from Nokia Bell Labs.
Speaking on the annoucement, Pekka Lundmark, President and CEO of Nokia, said:
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. 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.
Today we share our updated company and technology strategy with a focus on unleashing the exponential potential of networks – pioneering a future where networks meet cloud. To signal this ambition we are refreshing our brand to reflect who we are today – a B2B technology innovation leader. This is Nokia, but not as the world has seen us before.