Brand Finance, a brand valuation and strategy consultancy published its report for Top 25 most valuable Finnish brands. Nokia came out as the most valuable Finish brand for the 5th consecutive year, with the estimated brand value of €8.9 billion. The followup was Finnish engineering and service company KONE, while the third was Neste, an oil refining and marketing company, which are also based in Espoo.
Brand Finance did note that Nokia recorded just a marginal 1% increase in brand value, but that the investments in 5G technology are expected to raise the value of the brand in the coming years.
They also stated that Nokia is the 4th most valuable brand in the Nordic region.
Brand Finance concluded that because of COVID-19 pandemic, Finnish brands could end up loosing close to 10% of brand value, which is a drop of €2.7 billion compared to the original valuation date of 1st January 2020, but they also estimated that the brand value of global top 500 companies could fall by €1 trillion.
Nokia is still stable so far, and further investments in the 5G, together with the changes in leadership, will improve its value in the coming years.