Finnish company Nokia has decided to sell the digital health and fitness accessory business it acquired in 2016 from Withings for $192 million back to Éric Carreel, who is the co-founder of the French health tracking company.
Nokia says that the planned sale is part of its shift to become a business-to-business and licensing company. Even though Nokia rebranded Withings’ iPhone-compatible digital health accessories and fitness wearables, the entire Digital Health division managed to pull in just $62.4 million in revenue last year.
The transaction is subject to terms agreed in the negotiations and completion of the information consultation with the Works Council of Nokia Technologies (France) SA.
The deal is expected to close by the summer.
Apple currently carries several Nokia-branded digital health accessories via its retail and online stores, including Nokia’s smart sale, thermometer and blood pressure monitor.