Nokia finally gave up on consumer health tech, confirming February reports that they were reviewing strategic options for its Digital Health business. Digital Health was a tiny part of Nokia Technologies and an even tinier part of overall revenue (under .2 percent at €52 million of revenues). The prospective buyer in the exclusive talks is Withings co-founder and former chairman Éric Carreel. “Nokia and Éric Carreel recognize that as an original Co-Founder of Withings, he is best positioned to carry the company forward into its next phase,” a Nokia spokesperson wrote to Mobihealthnews.
Withings sold itself to diversifying Nokia in 2016 for a hefty €170 million, becoming Nokia Digital Health in February 2017. The Withings purchase was positioned as a reverse takeover, with Withings staff taking over Nokia’s fledgling efforts in digital health. But the promised results and impact never took place and Withings faded from view, at least in the Americas.
According to their statement, “The planned sale is part of Nokia’s honed focus on becoming a business-to-business and licensing company.” Other interested buyers include Google’s Nest division and Samsung. The company may also head back to France. TechCrunch, Mobihealthnews