Nokia has just announced that it is in negotiations to sell its health-oriented products division. A few weeks ago, there was speculation about the possible purchase by Samsung, a rumor that we have not heard from again. Apparently, very few companies are interested in buying this division, so Nokia plans to return it to the former owner of Withings.
Nokia bought the Withings company in 2016, a company that in recent years had managed to make an important niche, and name, among health-oriented products, such as scales, clock-shaped quantifying devices, blood pressure meters as well as a wide range of surveillance cameras and for the little ones in the house.
Nokia paid 2016 million dollars in 192 for expanding its presence in this sector, renaming the entire Withings product range but without launching any new product on the market since it was purchased, a rather strange move on the part of the company. It seems that the Finnish company has regretted its purchase as it does not generate enough money in revenue as it had anticipated. Nokia's healthcare division had revenue of $ 62.4 million, while the mobile division brought in $ 27.800 billion.
Nokia is negotiating with the co-founder of Withings, Éric Carrel, to buy back the health division, although logically at a lower price than the Finnish company initially paid, although at the moment no figures have been mentioned. The company has announced its strategic health plans and the sale of this division is a priority for the company, as it wants to focus on the sale of mobile phones in addition to offering business services.
This announcement has been followed by a large number of layoffs in the health division, a division that does not show good growth prospects. In addition, in recent months, the value of this division has been reduced to 164 million dollars.