May 2, 2018 / 9:23 AM / in 19 days

Nokia says close to a deal to sell its digital health venture

HELSINKI, May 2 (Reuters) - Nokia is planning to sell its small digital health business, including activity trackers and smartwatches, to Eric Carreel, co-founder of Withings, the Finnish company said on Wednesday.

Nokia, which is mainly focused on making telecom network equipment, had announced in February that it would start a strategic review of the digital health venture after just two years in the business.

“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 in a statement. (Reporting by Jussi Rosendahl, editing by Terje Solsvik)

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