In its entirety, our Digital Health business has struggled to scale and meet its growth expectations,” Nokia’s chief strategy officer Kathrin Buvac wrote in the letter to employees. As an initial move into the market, Nokia in 2016 bought France’s Withings, which makes activity trackers and thermometers, for 170 million euros ($209 million). Last year, Nokia brought a new smartwatch to the market but also wrote down 141 million euros of goodwill on the business. “They (digital health and VR) were both high-risk investments in future technologies, which didn’t take off. Nokia last year generated sales of 23.2 billion euros, of which 52 million euros came from digital health and digital media.

Source: bd News24 February 21, 2018 13:30 UTC