Finnish multinational communications company Nokia has begun a strategic review of its digital health business, while announcing it would cut more than 400 jobs in Finland.
Nokia’s digital health division is part of its Nokia Technologies unit and came into the equation following the company’s €170m (£132m at the time) acquisition of French smart health firm Withings back in 2016. The division has created a range of smartwatches, smart scales, and other digital health devices for consumers and enterprises.
Nokia has said that its patent business, brand partnerships, and tech licensing units will not be included in review, but it is not yet clear if the review will actually result in any changes at all.
“The strategic review of the Digital Health business may or may not result in any transaction or other changes,” said Nokia in a statement. “Any further announcements about the Digital Health business will be made if and when appropriate.”
On top of the review, Nokia will also let go of up to 425 of its 6,300 employees in Finland this year, as it continues its €1.2bn global cost-savings plan. In June last year, the company – which currencly employees around 102,800 people worldwide – announced it would cut 170 jobs from network operations and support. It followed this up in October with the announcement it would get rid of up to 310 employees from across Finland, the US, and the UK.