Advertisement

Nokia to Invest $100M in Smart Car Tech

by Todd Haselton | May 5, 2014May 5, 2014 8:00 pm PDT

nokia-headquarters-logo-sign-001

Nokia, seeing that cars are growing increasingly smarter, sometimes seemingly by the day, recently revealed that it’s bolstering its efforts in smart cars.

Speaking with Bloomberg during the Global Mobile Internet Conference in Beijing on Monday, a partner with Nokia Growth Partners, Paul Asel, said the firm is making an investment in smart car firms to make sure that Nokia’s existing businesses aren’t left behind. The firm’s devices and services arms were recently acquired by Microsoft.

“We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,” Asel told Bloomberg during the conference. “The car is really becoming a platform like when the mobile handset became a smartphone and all the apps and services developed around that.” Nokia will invest $100 million in firms that develop smart car technology.

Nokia just appointed a new CEO, Rajeev Suri, five days ago, who said that Nokia hopes to be a leader in connecting devices, location services and smart sensors over the next 10 years. That includes Nokia’s existing HERE mapping business, which Nokia likely wants to get embedded in new smart cars.

Bloomberg

Advertisement


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...


Advertisement

Advertisement