Nokia is Targeting Apple as a Potential Buyer for its Maps Business

Discussion in 'Apple iPad News' started by RaduTyrsina, Apr 23, 2015.

  1. RaduTyrsina

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    Jun 22, 2012
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    Yesterday we were telling you that Apple could be working to bring back public transit directions into its maps app; and now we have some fresh related news. Bloomberg reports that Nokia wants Apple to buy its struggling Here Maps division and is looking to get around $3.2 billion for it. Bloomberg says:

    "Nokia Oyj, the Finnish company selling its money-losing maps business, is trying to drum up interest from some of the biggest names in technology including Apple Inc., Alibaba Group Holding Ltd. and Inc., people with knowledge of the matter said."

    Nokia first bought the mapping assets in 2008 for $8.1 billion and is now looking to sell it because it's a money-losing business for the company. After Microsoft bought Nokia's device and services division, the company had been struggling to keep afloat, and has even resorted to launching an iPad Mini look-alike to get some cash flowing.

    But Apple could be genuinely interested in the Here maps division, as Bloomberg puts it:

    "Apple struggled in 2012 when it debuted mapping software for its operating system, which gave users poor directions and mislabeled landmarks. Apple eventually allowed Google Inc.’s mapping application on iPhones and iPads to assuage critics."

    By selling its HERE Maps division, Nokia hopes this will help them focus more on mobile network equipment to compete with companies like Huawei. The Finnish company purchased Alcatel-Lucent for 15.6 billion euros as it looks to create the world’s largest supplier of mobile-phone networks equipment.

    Source: Bloomberg
    #1 RaduTyrsina, Apr 23, 2015
    Last edited: Apr 23, 2015

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