Nokia said it expects to close the sale of its Here navigation business to a consortium of auto makers ahead of schedule, in an announcement made a day after its shareholders gave the green light to its planned merger with Alcatel-Lucent.
Nokia announced its Here mapping and navigation unit is evaluating the rollout of a cellular network in the Netherlands as part of the businesses' Cooperative Intelligent Transportation System (C-ITS) for connected vehicles.
Nokia's HERE division revealed it is powering a range of connected car features for Volvo Cars under a multi-year agreement signed earlier this year.
Nokia's HERE navigation business, said it is ready to press ahead with a pilot of a traffic information system based on existing LTE infrastructure, following the successful completion of a small-scale trial of the service.
The recent acquisition of Nokia's Here digital mapping and location services business by a consortium comprising Audi, BMW and Daimler is a harbinger for widespread strategic change in technology supply for automobiles. Smartcar companies including Daimler and Volkswagen admit they need Apple and Google as partners, but these Silicon Valley companies also pose significant threats as suppliers and as direct competitors.
Nokia's Here unit took another step towards defining common specifications for processing information from automotive sensors through the cloud by hosting a forum comprising 16 auto industry companies.
Nokia's agreement to sell its HERE navigation business to a consortium of German car makers could prove a boon for the mobile industry, analysts at IHS Automotive said.
Nokia has reached a deal to sell its HERE mapping and location technology unit to a group of German automakers for a little more than $2.71 billion (€2.5 billion), according to a Wall Street Journal report.
Nokia's HERE mapping and location services business began a push to create a global standard for contactless transport ticketing payments using Near Field Communications (NFC)-enabled mobile phones.
The battle to acquire Nokia's HERE mapping and location technology unit appears to have settled into a waiting game between the company and a consortium of German automakers as other bidders have faded away, according to a Reuters report.