Nokia Could Possibly Sell Its Digital Health Business

Angelica Greene
February 17, 2018

The division sells a portfolio of consumer and enterprise products, including smart watches, scales and digital health devices.

Nokia did not give any reasons for the review - but it has been public knowledge that all is not well at the unit since late previous year when the firm axed development of a high-tech but high-cost virtual reality camera that could have had applications in digital health.

In 2016 Nokia bought France's Withings, which makes activity trackers and thermometers, for Euro 170 million ($212.3 million or roughly Rs. 1,350 crores) as an initial move in the health market.

The firm's decision apparently comes as a surprise to its partners, having arrived in lesser than a couple of years - as of June 2016, Nokia had paid United States dollars 192 million to purchase Withings, a French consumer electronics firm, for entering a new business portfolio of the digital health business.

Nokia digital health business analysis is getting strategic review as a part of Nokia Technologies, according to the recent announcement made by the company. The company added that the patent business, brand partnerships and technology licensing operations that also fall under Nokia Technologies are not part of the review.

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The company has announced today that it has started a strategic review of options for its Digital Health business.

At the time of the Withings acquisition, Ramzi Haidamus, then-president of Nokia Technologies, called the expansion in digital health "an exciting new chapter in the history of Nokia Technologies".

Last October, the Finland-based vendor revealed it was cutting one-third of the workforce at the Technologies business unit in light of slow sales of VR products.

In a major turn of events witnessed across the digital health industry, Nokia has declared to have begun evaluating various alternatives for its online health activities.

Other reports by GizPress

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