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

collected by :Roy Mark

Dive Brief:Nokia is washing its hands of digital health. The firm reported plans Wednesday to purvey its digital health business to Eric Carreel, co-founder and chairman of French startup Withings, that Nokia phone bought in 2016. Nokia took a 141 mn euro writedown on the Withings bargain in October, according to Bloomberg. Nokia's get out comes as further companies are eyeing a piece of the digital health pie. The top-funded categories were digital diagnostic solutions, disease monitoring, diabetes, user health information, R&D catalysts, on-demand health services and health advantages administration.

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

referring 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.

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