Nokia Announces Strategic Review Of Digital Health Unit

Nokia Health

Nokia added that any further announcements regarding its Digital Health business will be made when appropriate. However, Nokia could possibly end up selling its Digital Health business because the company has confirmed today that it has begun a strategic review of the business to consider its options.

Nokia'sDigital Health business portfolio includes consumer and enterprise products, and it manufactures and sells an ecosystem of hybrid smart watches, scales and digital health devices to consumers and enterprise partners.

Nokia chose to appoint former Withings CEO, Cedric Hutchings, as unit head, basing a range of digital health devices around a redesigned app, Nokia Health Mate.

Nokia is in the midst of a massive re-structuring in the wake of its 2016 acquisition of Alcatel-Lucent, and in addition to the strategic review of the digital health unit has also begun cutting jobs, with up to 425 positions reportedly to be cut this year in Finland. "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".

Nokia did not give any reasons for the review - but it has been public knowledge that all is not well at the unit since late a year ago when the firm axed development of a high-tech but high-cost virtual reality camera that could have had applications in digital health.

But the wearables market has clearly faltered lately, as noted by TechCrunch, based on the struggles of companies like Fitbit. "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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