Nokia Technologies Focuses on
October 10, 2017
Nokia plans to sharpen the focus of Nokia Technologies on digital
health, and accelerate growth in that market, while optimizing
investments in virtual reality (VR). Nokia Technologies will also focus
on growing brand and technology licensing while leaving its successful
patent licensing business untouched.
The shift deepens Nokia's commitment to fully leverage its digital
health portfolio acquired through the purchase of Withings in 2016.
Through a more focused, more agile digital health business, Nokia aims
to have larger impact with consumers and the medical community.
In digital media, the slower-than-expected development of the VR market
means that Nokia Technologies plans to reduce investments and focus more
on technology licensing opportunities. The unit aims to halt development
of further versions of the OZO VR camera and hardware, while maintaining
commitments to existing customers.
potential reductions are expected to affect up to 310 of the roughly
1090 employees in Nokia Technologies, mainly in Finland, the US and the
UK. To start the process, Nokia today has invited employee
representatives of Nokia Technologies in Finland to cooperation
"Nokia Technologies is at a point where, with the right focus and
investments, we can meaningfully grow our footprint in the digital
health market, and we must seize that opportunity," said Gregory Lee,
president of Nokia Technologies. "While necessary, the changes will also
affect our employees, and as a responsible company we are committed to
providing the needed support to those affected."