When Nokia bought Withings, the French company renown for its health-related connected devices such as smart sleep systems, activity trackers, and blood pressure monitors, promised “the beginning of an exciting new chapter in the history of Nokia Technologies.”
Fast forward two years and the Finnish company is looking for buyers for its now rebranded Nokia Health division. French newspaper LeMonde reports many companies are now competing for the health business, including Google, Samsung, as well as French and European companies.
Nokia Technologies bought Withings back in 2016 for $ 192 million, but it’s unclear how much it will get for Nokia Health now. Even though Samsung and Google are among the bidders, LeMonde believes one French company might be in pole position because of the importance of the AI sector in the region.
Last year, Nokia announced, in its quarterly financial report, the assets of Withings amounting to approximately €140 million ($ 172 million) have been overvalued, so Nokia Health’s selling price is definitely going be lower than what the Finnish company paid two years ago.
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