Why Is Nokia Making This Investment?
By Meghan Foley | January 30, 2013 6:04 AM EST
After Nokia ( $250 million in its venture-capital division, with the intention of to focus on China, the world’s that includes semiconductors, embedded software, and services. Nokia invested $250 million in the third fund the manufacturer has set up. Most recently, Nokia Growth Partners invested $8 million in the Swedish video streaming service Voddler and $10.7 million in Luminate, a California-based company that makes interactive imaging software.
Nokia sees the division as a means to expand its business. “Over the past decade, Nokia has developed an innovative venturing strategy,” Timo Ihamuotila, the company’s Executive Vice President and Chief Officer, said in a statement. “Our ongoing commitment to Nokia Growth Partners reinforces Nokia’s support for a vibrant mobile ecosystem and our determination to collaborate with industry innovators to build great mobile products.”
Copyright Wall St Cheat Street All rights reserved.
Join the Conversation
- New Zealand Economy Benefits From Australia's Big Investments; Kiwi Down After RNBZ Comments
- ETF Outlook for Thursday, January 2 (FEZ, FXI, SPY, XHB)
- January Second Trading: Always Interesting
- 13 Things Investors Learned In 2013 - Part II
- Are Diversity and Quality the Way to Profit from the Rebound in Gold and Coal?