Nokia has announced a strategic review of its digital health business, less than six months after the company said it must seize the opportunities afforded by changes to the healthcare market.
The division sells a portfolio of consumer and enterprise products, including smart watches, scales and digital health devices.
Details were scant, with Nokia releasing a statement that said: “The strategic review of the Digital Health business may or may not result in any transaction or other changes.”
The division is part of Nokia Technologies, which saw revenues jump 57 percent to €1.65 billion last year.
The vendor added its patent, brand partnerships and technology licensing businesses, also part of Nokia Technologies, were “not in the scope of this review”.
Last October, the Finland-based vendor revealed it was cutting one-third of the workforce at the Technologies business unit in light of slow sales of VR products.
As part of that announcement, Gregory Lee, President of Nokia Technologies, said: "Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity.”
Despite the growth at the tech arm, Nokia saw overall revenues slide two percent to €23.15 billion last year on account of a continued slowdown at its main networks business.
The company's net loss also widened from €912 million to €1.44 billion last year.
CEO Rajeev Suri said 2018 would see margins come under pressure, but that he anticipated 5G would boost Nokia in 2019 and 2020.
Last November, Nokia denied reports that it was preparing an offer to acquire rival vendor Juniper Networks.