Nokia is acquiring a French consumer electronics company popularly known asWithings. The company is a major producer of smart gadgets used in all faze of life including in the hospital. The deal that is focused on digital health — for €170 million ($191 million) in cash.
According to a press statement by Nokia President and CEO, Rajeev Suri,
"We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market,"
He continued...
"With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples' lives."
Meanwhile, Withings CEO Cédric Hutchings said in a blog post how "perfectly aligned" the visions of the two companies are. "The Nokia vision of creating beautifully designed products that blend seamlessly into the everyday lives of real people echoes exactly [our ambitions]; we have a solid shared ground to build on." Hutchings said that Nokia had expressed interest in "Preventive Health and Patient Care," and that Withings apps and products will continue "to work in the same way."
Is this a better move by Nokia? Or do you want them to return to the smartphone industry?
Source: Nokia and withings
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