Last year, the Finnish technology company acquired France’s Withings, a thermometer and activity tracker manufacturer, as part of a move into the digital health sector. It has since rebranded the products and launched a line of connected consumer health devices including mobile apps.
According to Nokia’s financial results released Oct. 26, it had written down $164 million (€141 million) of goodwill on the business, which it paid $198 million (€170 million) for.
“The charge was taken as we updated our projections for the business,” Nokia spokesman told Reuters via email. “Despite the charge, we remain confident in the potential of our digital health business, and believe we have the assets, the brand and the innovation capabilities to succeed.”
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