UPDATE 1-Nokia starts review of digital health business, cuts jobs in Finland

From Reuters - February 15, 2018

HELSINKI (Reuters) - Finnish network gear maker Nokia has started a strategic review of its digital health business and announced more than 400 job cuts in its home country.

Digital health, part of Nokia Technologies unit, is one of the areas where the company had been looking for growth opportunities amid a tough market for its mainstay telecom network gear business.

Nokia said in statement the review may or may not result inany transaction or other changes.

The Finnish company said its patent business, brand partnerships and technology licensing units are not in the scope of the review.

In 2016 Nokia bought Frances Withings, which makes activity trackers and thermometers, for 170 million euros ($212.3 million)as an initialmove in the health market.


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