Nokia decides to purvey off digital health business it held for two years

As it stated in Nokia final 7 days reported plans to purvey off a digital health business it acquired just 2 years ago to capitalize on the popularity of wearable obesety trackers such as those made with Fitbit. Nokia told it's selling the digital health business to Eric Carreel, co-founder and chairman of Withings, a French startup that Nokia phone acquired in 2016 for $204 million. Technologies from Withings formed the backbone of the Nokia phone unit, that has been marketing a heart-rate and activity watch and a "smart scale" that transmits information on body composition and heart rate. The discound of the digital health unit too can remove an ambit of possible friction among Nokia phone and several companies that license its patents to make their handsets and tablets. After Nokia phone reached a settlement in its legal patent fight with Apple a year ago, the unite states tech giant resumed toting the company's digital health products in stores and online—Apple had pulled those products during litigation.

Nokia to purvey its health division to Eric Carreel, co-founder of Withings, after talks with Nest and more

Nokia to purvey its health division to Eric Carreel, co-founder of Withings, after talks with Nest and moreNokia's failing foray into digital health hardware and services looks like it is Eventually coming to an end. Withings formed the core of the division after Nokia phone acquired the French startup in 2016 for €170 million. "Nokia reported a show of strategic options for the Digital Health business in February 2018. "In its entirety, our Digital Health business has struggled to scale and meet its development expectations. Nokia rebranded its Withings division as Nokia phone Digital Health in February 2017 and then pumped added additional investment and attention into boosting the division after shuttering other operations, namely another effort it had made into hardware, in VR cameras.

Nokia is selling its digital health business back to the co-founder of Withings

according to Nokia has reported plans to purvey its struggling health tech business back to Éric Carreel, co-founder of Withings, the French startup Nokia phone purchased in 2016. Nokia purchased Withings 2 years ago for $191 million, before rebranding the startup's products (including a Intelligent scale and various well-received obesety tracker watches) as fraction of its new "Digital Health" business in 2017. However, the rebadged Withings products Apparently weren't making sufficient money for Nokia: in October 2017, the firm reported a write-down of €141 mn ($164 million) on the assets. The Digital Health business brought in just €16 mn ($20 million) in revenue, compared to internet discounds of €4.9 bn ($5.9 billion) for the rest of Nokia. Nokia tells the discound is Guessed to be completed with the finish of the 2nd quarter this year, while the aftertime of the Withings brand is unknown.

collected by :Roy Mark