Nokia revealed it is in talks to offload its Digital Health unit to Eric Carreel, co-founder and former chairman of the Withings devices company previously acquired by the Finnish vendor.
Nokia said it was reviewing its options for the unit, as part of its “honed focus on becoming a business-to-business and licensing company”. Big names including Samsung and Google were linked with the unit, although there was also speculation the French state was keeping a close eye on progress.
In a statement announcing the talks, Nokia did not reveal who may be backing Carreel in his bid.
Nokia’s Digital Health portfolio includes consumer and enterprise products, including “an ecosystem of hybrid smart watches, scales and digital health devices”.
In 2016, Nokia paid €170 million to buy Withings as part of a plan to boost its IoT strategy. But the company has acknowledged its struggles in growing the business, and while a price has not been disclosed, it is likely to be somewhat less than Nokia paid.
The transaction is subject to the terms agreed in the current negotiations and completion of a consultation with the Works Council of Nokia Technologies (France). It is expected to close late in the current quarter.