Tech

Nokia begins strategic review of Digital Health business amid hundreds of layoffs

Nokia begins strategic review of Digital Health business amid hundreds of layoffs

"A Nokia spokesman told Reuters that the company "[remained] confident in the potential of our digital health business" and that it believed "we have the assets, the brand and the innovation capabilities to succeed".

Finnish network gear maker Nokia said on Thursday it has started a strategic review of its digital health business. "The press release even includes this non-statement about it: "[it] may or may not result in any transaction or other changes".

But it was never really about the hardware, but the data.

Those actions come amid a larger push by Nokia to cut costs as part of its 2016 merger with Alcatel-Lucent.

More news: GoFundMe to support Florida school shooting victims

"Everyone can have his health station at home, feeding data to virtual hospitals", he said, providing "instant access to information and analytics previously restricted to medical professionals".

Given Nokia's relative good fortune with the smartphone and feature phone business of late, it's no surprise they're addressing the rest of their business.

The review comes less than two years after Nokia spent $191 million to acquire Withings, a French electronics startup specializing in wearables. The company added that the patent business, brand partnerships and technology licensing operations that also fall under Nokia Technologies are not part of the review.

Of course, the past year has seen much of the air escape from wearables, and the company's clearly feeling that pinch. "But as tastes and demands have changed towards multi-purpose devices-like smartwatches from Apple, Fossil, and Samsung-vendors find themselves at a crossroads to adjust accordingly to capture growth opportunity and mindshare".


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