May 31, 2016 – Paris, France: Finnish network infrastructure technology leader Nokia Technologies has now completed the acquisition of French smart health gadgets maker Withings, as announced earlier this year on April 26th, for $190m. Cédric Hutchings, Withings CEO, will be leading Nokia’s new digital health business unit and together they will build digital health gadgets for consumers.
Withings was founded by Cédric Hutchings and Eric Carreel in 2008. Since then they have been building products and applications that enable people to connect with their friends and families. They also have a strong focus on using wearable and sensor technology in order to offer smart technology for a more healthy living.
By doing this, Nokia also re-introduces themselves as competition to Apple’s and Google’s efforts in combining digital health with the normal smartphone business. Nokia has been a leader in a similar space before, and they might be working their way back.
Possible Strategy Hints
After Microsoft dropped the level of buy-in with the Nokia mobile phone cooperation, Nokia might be back on track to re-establish their mobile phone business, which was leading the pack back in the day. With the experts and the product portfolio of Withings, Nokia will be able to establish and stabilize their new digital health business and finally offer their customers a holistic digital experience for business, leisure and healthcare.
“This is the beginning of an exciting new chapter in the history of Nokia Technologies as we extend our product portfolio to include a series of powerful digital health technologies,” said Ramzi Haidamus, president, Nokia Technologies. “The Nokia brand is synonymous with innovation, connectivity and consumer technology and the acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space. We’re excited to welcome the Withings team to the Nokia family.”
Nokia Technologies (TECH) is Nokia’s advanced technology and licensing business. Formed in 2014, TECH builds upon our solid foundation of industry-leading licensing and technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand Licensing and Patent Licensing, TECH is expanding the human possibilities of the ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the world’s first virtual reality (VR) camera designed for professionals.
Withings leads the connected-health revolution by inventing beautiful, smart products and services that help people become happier and healthier. Founded by visionary innovators Cédric Hutchings and Eric Carreel in 2008, Withings is committed to creating enjoyable, empowering experiences that easily fit into our daily lives. Withings has built a range of award-winning products across the health spectrum including activity trackers (Withings Pulse and Activité), the Wi-Fi scale and health station (Smart Body Analyzer), the Wireless Blood Pressure Monitor, the security camera with air quality sensors (Withings Home) and an advanced sleep system (Withings Aura). Every piece of collected data comes to life in the Withings applications where users can find coaching, motivation and insights to shape key aspects of their health.
YouTube: Discover Withings Activité – The Swiss-made activity tracker