Nokia: After Selling Mobile Phone Biz, Now Wants to Make Smart Cars
The technology company from Finland, Nokia, plans to combine cars with networking and computing, with an investment of US$ 100 Million Dollars.
Just when everyone thought that Nokia would just cash in their earnings from the sale of their mobile phone business to Microsoft, and quietly walk away, here they come with a bang. Reports from the mobile tech industry, said that the Finnish company is investing around US$ 100 Million Dollars in smart automobile technology, and will join the race to transform the way people use their cars.
After selling their mobile-phone biz to Microsoft, Nokia is jumping to an even more radical type of mobile technology: Smart Cars.
The company’s venture capital unit, Nokia Growth Partners, announced during the recent Global Mobile Internet Conference, that they are investing millions of dollars to bring smart tech to cars.
The groups told Bloomberg, through its partner, Paul Asel, that ?The car is really becoming a platform, like when the mobile handset became a smartphone, and all the apps and services developed around that.?
Smart Car technology is nothing new for Nokia. Its Navteq division supplies vehicles with Sat-Nav technology for operating navigation and mapping data. The proprietary system, called ?Here?, is also utilized in various smartphone and tablet platforms. Navteq is a growing business for Nokia with six thousand employees focused on mapping and data technology.
With this mapping platform, Nokia has one foot inside the door, in the smart car industry.
Other leading tech companies, like Google, are moving the smart car industry forward at a fast pace, with continuous research and testing on inter-car communications, self driving automobiles, systematized transport infrastructure and linking cars via platooning (Platooning is a system of arranging cars into platoons. Wikipedia describes car platoons as ?Platoons decrease the distances between cars using electronic, and possibly mechanical, coupling. This capability would allow many?cars?to accelerate or brake simultaneously. Instead of waiting after a?traffic light?changes to green for drivers ahead to react, a synchronized platoon would move as one, allowing up to a fivefold increase in traffic throughout if spacing is diminished that much. This system also allows for a closer?headway?between vehicles by eliminating?reacting distance?needed for human reaction.?).
With all the development in smart cars and smart transport infrastructure and systems, Ansel adds that ? We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet.?
Nokia’s new CEO, Rajeev Suri, also said in a statement, that ? NGP (Nokia Growth Partners) has been consistently performing well, bringing in both new innovation and financial return to Nokia. Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity where NGP is poised to make great investments.”
Photo Source: http://www.nokiagrowthpartners.com/