As part of that announcement, Gregory Lee, President of Nokia Technologies, said: "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". Digital Health is basically the convergence of digital and genomic technologies with health, health care, living, so on and so forth so that the efficiency of healthcare delivery could be more elevated and useful.
The Finnish tech firm Nokia has announced it is considering closing or selling its troubled digital health business. The company added that the patent business, brand partnerships and technology licensing operations that also fall under Nokia Technologies are not part of the review. After the internal review, they will be making the necessary announcements "if and when appropriate".
After purchasing a French company Withings for $190 million and entering in to the industry just two years ago, Nokia has declared that it is going to introduce a strategic review of the company's digital health business. It manufactures and sells a variety of hybrid smartwatches, scales, and digital health devices.
In a major turn of events witnessed across the digital health industry, Nokia has declared to have begun evaluating various alternatives for its online health activities. Both companies seemed to have huge ambitions.
Announced alongside the strategic review, Nokia revealed it's also cutting over 400 jobs from headquarters.
Nokia Technology is at a unique position from where they can build a new teeming business as Nokia being an essentially a new company.