On Sunday, Nokia (NOKIA.HE) revealed its intention to revamp its brand identity for the first time in almost six decades, including a fresh logo, as the telecommunications equipment manufacturer aims for robust expansion.

The latest logo of Nokia is composed of five distinct shapes that come together to spell out the brand’s name. Rather than sticking to the classic blue hue of the former logo, the company has opted for a variety of colors depending on the context of usage.

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During an interview with Reuters, Chief Executive Pekka Lundmark explained, “While in the past we were linked with smartphones, nowadays we are more of a technology company that caters to businesses.”

On the eve of the annual Mobile World Congress (MWC) in Barcelona, which begins on Monday and runs until March 2, he spoke prior to a company’s business update.

Having assumed the leadership position at the struggling Finnish company in 2020, Lundmark developed a strategy comprising of three stages: reset, accelerate, and scale. According to Lundmark, with the reset stage already accomplished, the second phase has now commenced.

Although Nokia’s goal remains to expand its service provider business, which involves selling equipment to telecommunications firms, its primary emphasis now lies in selling gear to other enterprises.

“We had very good 21% growth last year in enterprise, which is currently about 8% of our sales, (or) 2 billion euros ($2.11 billion) roughly,” Lundmark said. “We want to take that to double digits as quickly as possible.”

In the manufacturing sector, technology giants have formed alliances with telecom equipment manufacturers, such as Nokia, to provide private 5G networks and gear for automated factories to customers.