DUBLIN--(BUSINESS WIRE)--The "Wearables Case Study: Nokia Technologies Enters Digital Health with Withings Acquisition" report has been added to ResearchAndMarkets.com's offering.
Nokia Technologies has a clear focus on patent licensing. It licenses more than 30,000 of Nokia Corporation's patents and serves as an incubator for new technologies in digital media and digital health.
Nokia sold its mobile phone business to Microsoft in 2013 for more than $7.2bn, abandoning the consumer technology space. Nokia Technologies's $192m acquisition of Withings allows for Nokia's resurgence in consumer technology. Nokia will benefit from Withings's brand, reputation, and expertise in connectivity, hardware, and software, with wearables in place of phones.
Nokia Technologies's CEO, Ramzi Haidamus, recently stepped down after two years of leading the company and having overseen the Withings acquisition. The replacement CEO might have different strategies for expanding in digital health, potentially limiting Withings's growth.
Nokia Technologies experienced a 109% net sales increase and 105% gross profit year-on-year (YoY) increase in 3Q16 thanks to patent-licensing deals with HMD and Samsung. Nokia Corp. as a whole experienced a 7% net sales decrease and 2% gross profit decrease due to a 12% YoY decrease in net sales from its Networks business.
Withings's comprehensive health ecosystem covers a variety of wearables, corporate wellness products, partner apps, and more.
Key Topics Covered:
- SWOT analysis
- Company overview
- Product description
- Business model
- Funding and M&A
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