Nokia to sell Digital Health business to Withings co-founder Carreel

Ruben Fields
May 3, 2018

That move comes as competition amps up at the intersection of smartwatches and health, particularly from Apple.

It's fair to say that, aside from a bit of rebranding, Nokia didn't exactly take the Withings digital health company to the next level.

After completely re-branding the products which included fitness tracker watches and a smart scale device, the company created its own division in 2017 and named it Digital Health.

A number of parties have shown interest in buying the division including Google Nest and Samsung. However, given that the Digital Health division posted revenues of around €52 million a year ago, the resulting amount could be a drop in the bucket compared to the €23.2 billion in sales achieved by all other divisions for the same period.

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The company said the planned sale would be part of Nokia's shift to become a business-to-business and licensing company.

It is confirmed that this branch of Nokia's business is not performing well.

Telecoms giant Nokia to sell digital health unit back to Withings co-founder Éric Carreel. Its quarterly revenues related to digital health amounted to Euro 16 million for the three months to March. Terms of the proposed deal were not disclosed. A week later, a leaked memo seen by The Verge revealed that Nokia's chief strategy officer, Kathrin Buvac, had told employees that "our digital health business has struggled to scale and meet its growth expectations".

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