Business News Report
February 27, 2023

From Phones to the Industrial Metaverse: Nokia’s Shift to B2B and Strategies for Growth

In Brief

Nokia has unveiled a new logo that reflects its new identity and outlined a comprehensive set of strategies to drive growth and innovation in the tech industry.

Nokia’s new business strategy includes developing the industrial metaverse.

 

Nokia
Source: Nokia

Nokia, the Finnish tech company associated with mobile phones for decades, has unveiled a new corporate strategy that involves the metaverse and a complete rebranding. The company has changed its iconic logo and presented an ambitious vision for the future at a press briefing at Mobile World Congress 2023 in Barcelona. 

Nokia’s Chief Strategy and Technology Officer Nishant Batra revealed that the company aims to capture opportunities in the industrial metaverse by developing network systems that can sense, think, and act instead of just connecting.

The change from the classic, well-known logo to a modern, DJ-inspired design reflects the company’s renewed focus on business-to-business (B2B) operations and its move away from the consumer-facing past. While some people have expressed nostalgia for the old logo, others believe that the new design better represents Nokia’s current brand identity and vision for the future. 

Nokia outlined a new business strategy that includes leading the market through innovation, expanding its enterprise customer base, managing its portfolio to become a leader in all segments, and monetizing its intellectual property across various sectors. The company also intends to introduce new business models, such as “as-a-Service” and use its focus on environmental, social, and governance (ESG) standards to its advantage.

“Our updated company strategy is supported by our technology strategy, which details how networks will need to evolve to meet the demands of the metaverse era,”

Nokia wrote.

In another blog post, Nokia stated that the industrial metaverse promises to deliver numerous benefits across various industries. By leveraging this technology, organizations can enhance safety and sustainability, increase automation and prototyping, and facilitate more agile research and innovation. 

On the other hand, Microsoft recently shut down its four-month-old industrial metaverse and laid off around 100 employees.

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About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

More articles
Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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