Pekka LundmarkCEO of Nokia, told According to Helsingin Sanomat, the company has decided to “put its food on the gas pedal” after noticing the improved technical position.
He said that Nokia currently has a 25-26 percent share of mobile communications networks and a less than 20 percent share of optical networks in regions outside of China.
“The market is no longer growing too much in the networks of telecommunication companies, but we intend to increase our market share with new products. The geopolitical development also helps us, he said about the problems of Nokia’s Chinese competitors.
Several Western telecommunications companies have stopped purchasing equipment and software from competitors due to espionage.
Last year, the turnover of Nokia’s corporate business grew by 21 percent from the previous year to two billion euros, which corresponds to about eight percent of its turnover of 25 billion euros. According to Helsingin Sanomat, its most important business customers are mines, ports and energy companies.
“Automation is advancing rapidly in industry, which is why we are taking this growth opportunity hard,” explains Lundmark.
He said the company aims to become a technology leader in all business segments, increase software-as-a-service and increase patent licensing in non-mobile segments such as automotive and the Internet of Things.
“We’re going to make accountability a competitive advantage,” he said of the sixth pillar. “This means that we take environmental aspects and information security into account in all our activities, among other things. The green transition and digitalization support each other very strongly.
Helsingin Sanomat pointed out that Nokia still employs around 10,000 companies in China, where the human rights background is questionable.
“It is not possible to separate China from the world economy. [The European] Commission President, Ursula von der Leyenhas said that China cannot be cut out of production, but we need to do a better job of managing the risks associated with China and making sure we are not overly dependent on it,โ Lundmark responded.
Nokia also announced on Sunday that it plans to update its brand, including introducing a logo that symbolizes a “powerful, dynamic and modern” company.
“Our old logo is still closely associated with mobile phones. With the new visual design, we want to convey that the company is renewing itself,” Lundmark added to Helsingin Sanomat.
Aleksi Teivainen โ HT