Nokia Makes Waves with Withings Acquisition

Nokia Makes Waves with Withings Acquisition

Remember Nokia? Microsoft snapped up its Lumia handset business, but the Nokia brand is still around and making news. Today Nokia announced the purchase of Withings, a maker of wearables and Internet of Things devices, specializing in digital health. This is an interesting move, as Nokia is still a recognizable brand and could elevate Withings in the minds of consumers. The purchase will be in cash for a total of 170 million euros. The wearables market is crowded, but this could legitimize both Nokia and Withings at the same time, as opposed to each vendor going it alone.

Withings

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"We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market," said Rajeev Suri, president & CEO of Nokia. "With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples' lives."   

Interestingly this will put Nokia directly in competition with Microsoft, and their Microsoft Band. In addition to the Apple Watch, not to mention a wide variety of Android Gear, Nokia and Withings will have their work cut out for them. Still, Withings has made some attractive, waterproof, elegant wearables, with long battery life that don't look like a geeky technology product, so there is room for competition.

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Todd Bernhard is a bestselling (6+ million downloads) award-winning (AARP, About.com, BestAppEver.com, Digital Hollywood, and Verizon) developer and founder of NoTie.NET, an app developer specializing in Talking Ringtone apps including AutoRingtone. And his profile photo is of the last known sighting of Mr. Bernhard wearing a tie, circa 2007!

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