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.
Most Popular Slideshows
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
- NFL Thursday Recap - Denver Broncos 35, San Diego Chargers 21: Peyton Manning Has 3 TDs In Easy Win [PHOTOS]
- 2014 MLB World Series Game 3: Kansas City Royals 3, San Francisco Giants 2 [PHOTOS]
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?
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Verizon Motorola Droid Turbo Leaked Live Images Surfaces, Scheduled To Get Unveiled On Oct 28
- Update HTC One M7 with LG G2 with Android 4.4.2 as Sprint OTA: Fixes and Installation
- U.S. Targets Buyers of ISIS Oil, Threatens Sanctions
- ISIS Syria Airstrike Bombing Has Killed 550 People, Civilians Included
- Russia Shifts Blame On US For Ukraine Crisis, Putin Accuses West of 'Remaking World'
- Russia Blocking OSCE Monitoring Of Its Border With Ukraine