Nokia Announces Strategic Review Of Digital Health Unit

Image Credit Nokia

Less than two years after putting the pieces together for a business unit to serve the digital health space, Nokia is reevaluating the status of that business.

Nokia has announced a strategic review of its digital health business, less than six months after the company said it must seize the opportunities afforded by changes to the healthcare market.

Details were scant, with Nokia releasing a statement that said: "The strategic review of the Digital Health business may or may not result in any transaction or other changes". It's not clear what the future holds for the team and products, but a strategic review means Nokia is looking at various options.

Separately, Reuters reported Nokia is planning to cut roughly 425 jobs this year in its home country of Finland.

This linked with products including a wi-fi connected scale, Nokia Body, and Nokia BPM+, a blood pressure monitor, to provide an holistic view of a user's health.

After "slower than expected development" of its 360 VR camera, OZO, Nokia said it was offloading around 310 of around 1090 employees working in VR.

But the company wrote down 141 million euros of goodwill on the business in the third quarter of 2017.

The Finnish firm faces intense competition from a growing number of tech companies that are trying to market digital health products - with Apple and Google some of the biggest firms involved.

Withings, the French wearables company, was acquired by Nokia a year ago after the company announced its intention to buy Withings in 2016.

The vendor added its patent, brand partnerships and technology licensing businesses, also part of Nokia Technologies, were "not in the scope of this review".

Related:

Comments

Latest news

Jonny Hunter and L'Etoile named James Beard semifinalists
Sibling duo Evrim and Evin Dogu , co-owners of Sub Rosa Bakery, are both named as semifinalists for Outstanding Baker . Candidates must not have been nominated for a James Beard Foundation chef award in the past five years.

Analyzing Stocks On Analyst Opinion: Vipshop Holdings Limited (VIPS), AstraZeneca PLC (AZN)
The current share price indicates that stock is -13.58% away from its one year high and is moving 96.92% ahead of its 52-week low. According to Wilder, any number above 70 should be considered overbought and any number below 30 should be considered oversold.

It's official! Facebook all set to roll out two smart home speakers
One is said to feature facial recognition to identify users for accessing Facebook through a wide-angle lens on the front. It was first reported a year ago that Facebook was planning to launch its own smart speaker in 2018.

Priyanka Chopra allegedly sues Nirav Modi for defrauding her
However, he returned to Mumbai to learn the diamond trade from his uncle Mehul Choksi, who is the Chairman of Gitanjali Group. While he has said that she is in Switzerland right now, there is no confirmation about when and if he left the country.

Phil Jones admits Manchester United deserved to lose against Newcastle
The same article says that the Red Devils have been linked with a big-money swoop for Leicester City defender Harry Maguire . Reports today claimed Smalling and his defensive partner Phil Jones will be axed by the Red Devils this summer.

Other news