As expected, co-founder Eric Carreel, who sold the business to Nokia just two years ago, has completed the re-acquisition for undisclosed terms, Nokia and Withings announced.
Nokia rebranded its Withings division as Nokia Digital Health in February 2017 and shortly after they revamped the Withings app which received a large amount of criticism since then there has not been much word on new products. The smart scales have always been a popular product, but this is now becoming a crowded marketplace and obviously not profitable enough for Nokia.
Nokia bought the company for €170m ($192m) and hasn’t reported how much they are selling the company for. However, during the first quarter’s earnings, Nokia Digital Health brought in just €16 million ($20 million) in revenue, compared to net sales of €4.9 billion ($5.9 billion) for the rest of Nokia.
Carreel seeks to relaunch the Withings brand by the end of 2018 by following an ambitious roadmap.
The Nokia Digital Health/Withings product range includes activity tracking watches (Steel, Steel HR), connected scales (Body Cardio, Body+ and Body), blood pressure monitors, a smart thermometer (Thermo), and a sleep tracking pad (Sleep). These devices enable users all over the world to take care of their health on a daily basis. All data collected is analysed and interpreted in the free Health Mate app, where users can find a complete vision of their health together with motivational advice to better understand the key aspects of health and well-being.