Nokia Bids Farewell to Its Here Maps Unit For $3 Billion

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Nokia Bids Farewell to Its Here Maps Unit For $3 Billion

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We know that Nokia has been away from the limelight of smartphones and is no longer considered the competition it used to be. Now, another field that they will be stepping away from completely, is the area of maps. Nokia sold its Here unit to the parent company, Daimler that has German carmakers like Mercedes, BMW and Audi, under it.

“High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of Here, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries,” said Dieter Zetsche, Chairman of Daimler.

The price that it was sold at was $3 billion dollars and each partner i.e., each of the car companies will own an equal stake in Here maps. The deal is supposed to officially close in the first quarter of 2016.

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Nikita Noronha
Nikita Noronha is the sub-editor for iGyaan. Her interests include photography, movies and of course, any kind of good food.