Nokia looks at options for its smartwatches and digital health business - Techies Updates

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Wednesday, February 21, 2018

Nokia looks at options for its smartwatches and digital health business

Nokia is conducting a review of the 'strategic options' for its recently created Digital Health business.

The Digital Health business is part of Nokia Technologies. Its portfolio includes consumer and enterprise products, and it manufactures and sells smartwatches, scales, and digital health devices.

Nokia cautioned that the strategic review of the Digital Health business "may or may not" result in any transaction or other changes, but said that the Patent Business, Brand Partnerships and Technology Licensing units of Nokia Technologies are not in the scope of this review.

Nokia's May 2016 acquisition of French health-monitoring technology company Withings for €170m ($192m) formed the basis of the company's digital health business.

The Digital Health business unit combines employees from Withings and experts from the preventive health and patient care teams in Nokia Technologies. Withing's product line included activity trackers, smart body analyzer scales, thermometers, blood pressure monitors, home and baby monitors.

At the time of the deal, Nokia said that digital health was an area of strategic interest and that healthcare was expected to become one of the industry segments in the Internet of Things, with predictions of a compound annual growth rate of 37 percent between 2015 and 2020.

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