Business valuation consultancy Brand Finance published its annual report – Telecoms 150 2020, in which they also ranked the world’s top 10 most valuable & top 10 strongest telecoms infrastructure brands. Nokia ranks as the 3rd most valuable & 5th strongest telecoms infrastructure brand in the world. Nokia’s brand value is up 0.7% to US$9.9 billion while its Brand Strength Index (BSI) score is down 0.3% to 74.6, but that didn’t result in any change in its ranking since the previous year. Brand Finance reports that investments are expected to pay off in the coming years, settling Nokia in a prime position to continue competing with peers, in particular in rolling out 5G networks around the world.
Not surprisingly, Huawei ranks 1st as the most valuable brand (brand value of US$65.1 billion) as well as the strongest brand. While Nokia’s European peer Ericsson ranks 6th in both the departments.
Seeing the current situation across the world, the impact on the global market is very real and the effects of the COVID-19 pandemic will be felt well into 2021. Nokia is doing its part to stabilise its networking business, by investing more into the R&D and lowering the costs cuts from €700 million to €500 million. Some rough times are ahead, but the brand is still strong.
Do check the report to know about the methodology behind it.