May 31, 2018
Withings to return after Nokia sell-off
Nokia is to sell its health division back to the founder of Withings, a company it acquired in 2016. The Withings brand name is set to return following the sale, reversing the Finnish company's decision to axe it. The sale to company founder Eric Carreel for an undisclosed sum comes after poor earnings for Nokia Health. In a statement posted on the Nokia website Mr Carreel announced his intention to bring back the Withings brand, maintaining coverage for the company's products. "It looked like Nokia had snapped a bargain when they bought Withings but it's very expensive to build a brand centred on health. With the benefit of hindsight, Nokia's rebrand may have been a mistake," Ben Wood, an industry analyst at CSS Insight, told the BBC. He added that the landscape in wearable heath had changed dramatically in the two years since Withings was sold to Nokia.
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