Nokia will acquire French based firm Withings for $191 million

5:31:00 AM Dick Wyn Yong 0 Comments

What a time to be alive, Nokia has announced that they are officially coming back into the consumer electronics game with their acquisition of French based Withings which are known for their fitness products that are exceptionally designed. Microsoft acquired Nokia's mobile division back in 2014 and since then, Nokia has been reporting positive revenues as the company became smaller when they sold MixRadio and HERE maps to other firms.

Since then, Nokia launched an Android based tablet called the Nokia N1 and earlier this year, the company also took wraps off the Nokia OZO which is a Virtual Reality camera designed for professionals. Disney in particular will be using the OZO to create 360 degree content.

But as for this acquisition for Withings, Nokia expects it to cost $191 million and if all goes well, the deal will close in Q3 2016. At this point, it is not clear what Nokia is planning to do with Withings but it looks like CEO Rajeev Suri is looking to boost Nokia's portfolio of well designed products in the Internet of Things category