Nokia wants to get away from phones and be seen as a network company

In this sense, Diana Coll explained that three pillars on this new path for Nokia are innovation, digitization and collaboration. Regarding the first two, she said that it is something continuous to help advance industries in their digital transformation based on the best use of resources, greater access to connectivity and sustainability for people.

Regarding the collaboration, the executive pointed out that it is a key element in the change of image, since they are aware that they cannot do everything alone, especially when it comes to 5G networks. “We need the apps to be available to developers, as well as reaching companies in the industrial area, and for this reason now the logo seeks to express that technological partners complement it,” she mentions.

Nokia’s vision for the metaverse

For the company, an important point about the evolution of its brand and technology has to do with the metaverse. Coll highlights that although there is an entertainment use for the final consumer, the different parties that participate in this technology also seek to monetize it.

Likewise, it highlights that the use cases will also be at the business and industrial level, specifically for personnel training tasks, even when it comes to workers who are remote or to reduce costs.

For now, Nokia may be in for a challenging time. Reuters reports that the telecom equipment sales market is under pressure, with a macroeconomic environment weighing on demand from high-margin markets such as North America, being replaced by growth in low-margin India, which has pushed rival Ericsson to lay off 8,500 employees.

“India is our fastest growing market that has lower margins, it’s a structural change,” Lundmark said, adding that Nokia expects North America to be stronger in the second half of the year.