Nokia no longer plans to make mobile phones

For the first time in almost 60 years, former mobile phone giant Nokia is changing its famous logo. A week before the Mobile World Congress in Barcelona began, the company presented a new logo and a strategy.

In an interview with Reuters, CEO Pekka Lundmark said that the company – which originally had an association with smartphones – has now evolved into a business technology company, according to Euronews.

In 2020, Lundmark took control of a Finnish company that was in dire financial straits; they then implemented a three–stage approach – reset, accelerate, and scale. Now that the reset stage is complete, they’re entering the beginning of the accelerate phase.

Although Nokia still aims to grow its service provider business by selling equipment to telecommunications companies, its main focus is now on selling equipment to other businesses.

Pekka highlighted the excellent company growth of 21 percent that they had last year, which accounted for 8 percent of their sales, at roughly two billion Euros. He expressed a desire to swiftly raise that number to double digits.

Telecoms equipment makers such as Nokia have teamed up with major tech companies to market private 5G networks and automated factory–related equipment generally to manufacturers.

Nokia is leaving the Russian market

Finnish 5G equipment manufacturer Nokia Oyj plans to exit the Russian market and join sanctions against the country due to the conflict in Ukraine.

As reported by this company, Nokia stopped deliveries and stopped new business. In addition, the company is moving its research and development activities outside of Russia.

This decision followed after rival company Ericsson from Sweden announced that it would stop operations indefinitely, writes Bloomberg.

According to a tweet by the CEO of Nokia, Pekka Lundmark, it was clear to the management from the very beginning of the conflict in Ukraine that the company would not be able to continue doing business in Russia.

Nokia has around 2,000 employees in this country, and “redundancies are inevitable.” However, the company will offer a change of location for certain positions whose work can go outside of Russia, said the company’s spokesperson.