Nokia is planning to sell its digital health unit back to Éric Carreel, co-founder and former chair of Withings, which the company acquired two years prior to form its health business, according to a new ZDNet report.
The former mobile phone-giant and tech company announced it had begun to review “strategic options” in February, according to the report, with a planned sale of the business as the company looks to focus entirely on busines-to-business tech and licensing.
The deal is expected to close late in the second quarter of this year, ZDNet reports.
The digital health business arm produces health products including digital scales, health devices and hybrid smart watches, according to the report.
In May of 2016 Nokia picked up Withings, a French health monitoring tech company, for $192 million (EU €170 million) to form the digital health business, which it originally saw as having the potential for significant growth, ZDNet reports.
The digital health business only made up a small portion of the company’s revenue, bringing in $19.2 million (EU €16 million) of Nokia Technology’s $437.2 million (EU €365 million) during its first quarter of 2018, while the entire company saw net sales of $5.9 billion (EU €4.9 billion), according to the report.