Destiny Duomou Nokia Sells Things Smart Wearing Business
Destiny Duomou Nokia Sells Things Smart Wearing Business

The Finnish giant Nokia has been developing poorly since it sold its mobile phone sector. Although it is still one of the four giants in the field of basic telecommunications, it has run into difficulties in the consumer market everywhere. In addition to authorizing its brand to HMD to launch consumer smart phones, it has also purchased Withings, a well-known smart wear manufacturer, for $191 million and regarded it as its new "digital health" Part of the business.

However, something unexpected happened. The smart wear market has cooled down in the past two years, and the development has not been expected to go smoothly. Has Withings brought enough revenue as Nokia expected? In October 2017, Withings announced that it would reduce its assets by 141 million euros. Nokia made a decision to abandon the business after conducting a strategic evaluation of the business. Nokia recently sold its digital health business to the co-founder of Withings, EyricCarreel, which means that Withings is still back to its old company. It is reported that the revenue of Nokia's digital health business in the first quarter of 2018 was only 16 million euros, while the net sales of Nokia's other businesses reached 4.9 billion euros.


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