What this Logo change means for Nokia?

“We didn't do anything wrong but, somehow we lost”, these were the famous last words said by Stephen Elop The CEO of Nokia at the time of the Acquisition of Nokia by Microsoft.

Nokia once was an iconic brand, the brand that controlled almost 40% of the market share at one time, the creator of the iconic 3310. today Nokia has fallen from its high horse Let's take a brief look at what and where went wrong

Nokia entered the smartphone market late, and its initial products in this sector were poorly accepted. Nokia was reluctant to embrace the trend towards smartphones. As this was going on, rivals like Apple and Samsung were quickly gaining market share with their cutting-edge and straightforward cell phones.

“ It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.” Charles Darwin

Lack of Innovation: Even when Nokia entered the smartphone industry, it lagged behind its rivals in terms of innovation. Nokia was behind in introducing touchscreens and app shops, which were gaining popularity among consumers.

Partnership with Microsoft: In 2011, Nokia made a partnership with Microsoft to use its Windows Phone operating system. However, the platform struggled to gain traction against Android and iOS, which were already dominant in the market.

Internal Issues: Nokia experienced internal issues and management alterations, which had an impact on its capacity to compete in the quickly developing smartphone industry. The business was known for being bureaucratic and taking its time to make judgements.

Chinese smartphone manufacturers like Xiaomi and Huawei, which provide high-quality products at lower rates, have escalated their competition with Nokia in recent years.

These were a few of the issues that Nokia faced in the early 2010s which caused its downfall

Comeback

Nokia has been reviving its business in recent years by refocusing its approach and diversifying. Here are some strategies Nokia is employing to take back market share:

Partnerships and Acquisitions: Nokia has been expanding its offering of goods and services by forming alliances with other businesses and purchasing firms. For instance, to increase its market share in the telecommunications industry, it bought the French networking company Alcatel-Lucent in 2016.

Emphasis on 5G Technology: Nokia is making significant investments in 5G technology, which is predicted to propel the telecoms sector's expansion. The business is developing new 5G infrastructure and services, including autonomous driving and remote surgery.

Nokia has licenced its brand to several businesses, like HMD Global, which makes devices using the Nokia name. This enables Nokia to make money without incurring the risk and expense of manufacturing its own devices.

Significance of Logo Change

Modernization: Nokia's efforts to update its brand and entice a younger, tech-savvy audience may be reflected in the logo modifications, according to one view. The most recent logo update, which has a cleaner, more modern design, might be interpreted as an effort to keep the company current in the rapidly evolving world of technology.

Brand Evolution: Another interpretation is that the modifications to the Nokia logo over time are a reflection of the brand's development. The company's logo has been modified to reflect the move in focus from mobile phones to other areas of technology, such as networking and digital health.

The Head of Nokia's telecom equipment division, Pekka Lundmark, presented a three-phase plan: reset, accelerate, and scale. Nokia is altering its logo for the first time in 60 years to signify the change in strategy now that the first phase of the plan is complete.