Nokia may shut its health tech business


It seems as Nokia might be preparing to flee the health tech world. Two years after it had acquired French company Withings for $190 million, Nokia has today released a statement saying it is kicking off a “strategic review of its digital health business”.

Writing a short blog post on the matter, Nokia said it was considering some “strategic options” when it comes to the health care business. The conclusion? It “may or may not result in any transaction or other changes.”

So, something might happen, but something also may not happen, as well.

Observers have noted that Nokia has had quite a few issues with Withings, from issues with the redesign of its health app, to the withdrawal of experimental features from the app, to financial issues.

One of the events that stands out and is being mentioned all over the web is the write-down of goodwill, related to the Withings purchase, worth $164 million.

Nokia is doing great with enterprise sales, but it seems as the company is having a hard time finding new revenue streams. Last year, it choked the Ozo virtual reality camera project, having to say goodbye to more than 300 employees as it did it.

Image Credit: Kārlis Dambrāns