Why Is Nokia Making This Investment?

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By Meghan Foley | January 30, 2013 6:04 AM EST

Wall St. Cheat Sheet

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.”

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The article was first published by Wall St. Cheat Sheet and does not represent the views or opinions of International Business Times.

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