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, 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.
Read more:
- Phone (1) developer Nothing to airdrop NFTs for community
- 5 Best NFT Trading Strategies For Investors in 2022
- Solana Labs revealed the first-ever Web3 smartphone, Saga
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
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 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].
