Changing Device Names / Ports in Console 3200

How to change the device names in Console 3200 or similar Solaris Serial Consoles?

1) Login to the Console
2) Run the following Command
sysadmin>devices --name=sol02 40
cmp02
Config files have been updated.
Updating hardware, please wait.... port: 40
Hardware has been updated.
sysadmin>

Now Port 40 will be renamed as sol02