Nokia 3310 revival ups brand value by 62% according to fresh research
Nokia's modern spin on its classic 3310 model has helped up the brand's value by 62% according to a list of the most valuable telecoms brands compiled by Brand Finance.
Nokia 3310 revival ups brand value by 62% according to fresh research
The annual research values some of the biggest advertisers in the world by determining their power based on factors such as marketing investment, loyalty and corporate reputation.
While AT&T has overtaken Verizon to become the world's most valuable telecoms brand, Nokia's brand value has climbed by almost two thirds to reach $4.9bn on the back of newfound momentum following the revival of the 3310.
Each brand listed is given a corresponding grade up to AAA+ and brand strength is used to determine what proportion of a business’s revenue is contributed by the brand, which is projected into perpetuity to determine the brand’s value.
Nokia's 2017 success story marks a turning point for the brand, which has struggled to compete with the likes of Apple and Samsung over the past decade. The Finnish company's brand value peaked at $33.1bn in 2008, making it the ninth most valuable brand across all sectors, but by 2014 it had sunk to $2bn.
Outlining the rationale behind the relaunch at Mobile World Congress (MWC) in Barcelona yesterday, Nokia chief executive Rajeev Suri said: “The love for the brand is immense. It gets a lot of affection from millions and millions of people.”
Meanwhile, AT&T saw its brand value grow 45% this year to $87bn according to Brand Finance, overtaking Verizon as the most valuable telecoms brand. Its acquisitive growth in South America and Mexico follows its 2015 takeover of DirecTV, resulting in continued growth in brand value and an increase in market share.