Moments after its announcement to buy Telecom major Alcatel Lucent, Nokia has started to give us hints that it might be considering to sell off its HERE mapping business.
As stated in a blog post published by Nokia, the company has initiated a review of strategic options, including a potential divestment for its HERE business. It also noted that “the strategic review of HERE is on-going and it may or may not result in any transaction”.
Ever since Nokia sold its smartphone and handset business to Microsoft, it has been working aggressively on other premier segments of its business, which also included Here maps business, to retain market share. The company’s mapping technology has always been highly rated. The revamped version of its service for mobile launched for Android last year and iOS this year.
HERE has also secured a number of strategic partnerships, including a rollout with Samsung and an agreement to power internet giant Baidu’s maps service outside of China. The chief cause for Nokia selling off might be to focus exclusively on their network business.
In another strategic development, Nokia today announced that it has agreed to buy Telecom major Alcatel Lucent, in a dela valued to the worth of $16.5 Billion. This comes in less than 24 hours since Nokia confirmed that it was discussing the deal.