Nokia reportedly discussing the possible sale of its HERE maps division

April 11, 2015

A new story says that Nokia is reportedly "exploring" the idea of selling off its HERE Maps division.

The company may decide to ditch the maps business in part to concentrate its time on its wireless network division. HERE Maps is already getting some interest from other companies and private-equity firms, according to Bloomberg's unnamed sources. It adds:

The Finnish company, which is working with a financial adviser, may decide against a sale if it can't get a price it deems sufficient, the people said. HERE reported full-year sales of 970 million euros and an operating loss of 1.24 billion euros, including a goodwill impairment of 1.21 billion euros, according to the annual report. In January, Nokia projected rising sales for its maps and patents divisions for 2015.

Nokia launched a version of HERE Maps for the iPhone and iPad in 2012 but pulled it from the App Store in late 2013. HERE Maps returned to the iPhone in March 2015.

Source: Bloomberg