Nokia’s troubled digital health business

By Sophie Chapman
The Finnish communications technology firm, Nokia, is to re-strategise its digital health business following disappointing results. The company acquire...

The Finnish communications technology firm, Nokia, is to re-strategise its digital health business following disappointing results.

The company acquired the French startup, Withings, two years ago for US$191mn.

Nokia bought Withings, the digital company specialising in activity trackers and digital thermometers, in a bid to enter the health industry.

However, the Finnish firm noted $175mn of goodwill recorded in the third quarter of last year.

SEE ALSO:

Due to the business not being as successful as it had hoped for, Nokia has announced plans to evaluate plans with its health branch.

“The strategic review of the Digital Health business may or may not result in any transaction or other changes,” the company stated.

According to Reuters, the review of the digital health arm could lead to 425 jobs being cut in Finland, where it employs 6,300 people.

The company’s aim to reduce employees follows the announcement of $1.5bn savings plan revealed after the acquisition of Alcatel-Lucent in 2016.

Share

Featured Articles

Creating robust pharma supply chains with delivery devices

John Swift, Head of Supply Chain at Owen Mumford Pharmaceutical Services, discusses how lifecycle management is key to a safe supply of pharma products

From Ukraine to Myanmar, reports reveal attacks on hospitals

Reports from the Centre for Information Resilience shows Russian army attacked Ukrainian hospitals & Myanmar’s military Junta targeted medical facilities

The use of AI in biopharma according to L.E.K. Consulting

L.E.K. Consulting’s Stephen Roper & Anne Dhulesia discuss the use of AI in biopharma and unleashing the power of Big Data in the healthcare sector

Novartis Kisqali minimises breast cancer recurrence

Medical Devices & Pharma

Rimidi CEO Lucienne Marie Ide on improving patient outcomes

Hospitals

WatchGuard Technologies & cybersecurity in healthcare

Hospitals