Nokia is planning to sell its Digital Health business to Éric Carreel, co-founder and former chairman of French consumer electronics company Whitings.
The firm announced a review of strategic options for its Digital Health unit in February. The planned sale is part of Nokia’s focus on becoming a business-to-business and licensing company.
The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies (France) SA., with the deal expected to close in late Q2 2018.
Nokia said the Digital Health’s business portfolio includes consumer and enterprise products. “It also manufactures and sells an ecosystem of hybrid smart watches, scales and digital health devices to consumers and enterprise partners,” it added. “The licensing businesses of Nokia Technologies are not affected by the announcement.”