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Nokia to Sell Digital Health Venture


Espoo-based telecommunication and technology firm, Nokia has recently announced that it had sold a small digital health business including smartwatches and activity trackers. Further, the company said that the executive who wound down the company’s consumer ventures will leave Nokia after less than a year in the job.

Sources information stated that Nokia is the world’s 415th-largest company measured by 2016 revenues. In 2017, the company approximately 102,000 people across over 100 countries, however, the company did business in more than 130 countries.

Previously, Digital health was the key factor for the telecommunication company; it is one of the areas that had been counting on for future growth opportunities.

Chief Executive Officer at Nokia, Rajeev Suri said, “Gregory came to Nokia and took the bold decision to refocus Nokia Technologies on licensing… We have agreed that his work at Nokia is done.”

A previous Samsung official, Gregory Lee pulled Nokia far from the business and also a virtual camera venture, leaving the unit to center around brand licensing.

As compared to Nokia’s total revenue of 23.2 billion euros, its digital health and virtual camera products generated total 52 million euros of sales.

Apart from this thing, the company announced the change in the Nokia Group Leadership team. Gregory Lee will be replaced by Maria Varsellona who remains Chief Legal Officer and Rajeev Suri will be part of Nokia’s Group Leadership Team.



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