By TNT Bureau
May 2, 2016: The giant communications company, Nokia is all set to step into digital health market with Withings, the well-known digital health company. It is being said that Nokia will be acquiring Withings for £ 133 million (€170 million).
Nokia will acquire this French digital health company which was founded in the year 2008. Withings is associated with selling a number of health and fitness products such as security cameras, wireless blood pressure, baby monitors, fitness trackers, wi-fi weighing scales etc. The best part of it all is that all the products are complemented by well-matched smartphone applications.
Nokia steps into fitness market with Withings
With this acquisition, Wthings will soon becomea part of Nokia Technologies which was founded in the year 2014. In 2015, Nokia Technologies had introduced OZO which is a virtual reality camera for professionals which was successful in creating a good amount of buzz across the market.
Rajeev Suri, the CEO of Nokia said that the company is looking forward to make a strong mark in the digital health market. Also, the company aims to reinforce its position in the internet of things and make a significant difference in the lives of people across the globe. Suri added.
With the acquisition of the healthcare company, Nokia said taht it expects to aid people suffering from health conditions such as diabetes and hypertension. Also, the company cited mobile health as the most rapidly growing healthcare division between 2015 to 2020.
Cédric Hutchings, the CEO of Withings said that this partnership will aid the company in bringing revelation of connected health to more people on a global basis.
The attainment follows Microsoft’s buy-out of Nokia’s mobile phone and smartphone business in 2013. The contract offered Microsoft a ten-year licence for Nokia products such as the Lumia and Asha brands, meaning that the Nokia brand could vanish from mobile phones by 2023. And this could fairly be one of the good reasons for Nokia to enter digital health market.