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Nokia Smart Cars

07.05.2014

The Finnish company Nokia Oyj intends to invest in the development of technologies for the creation of "smart" cars.

Investments of up to $100 million will be used to develop the company's business of developing digital maps. Financing will be provided through a specially created fund, which will be managed by the venture division of Nokia Growth Partners.

Nokia, after selling its mobile phone division to Microsoft for $7,5 billion, is actively reforming its business. Now the company's main income comes from the production of equipment for wireless communications, but management plans to strengthen the company's position in the segment of mapping services, which is led by Google.

“Now there is a wave of innovation in the automotive ecosystem, through the combination of mobile technologies and the Internet,” said Paul Azel, Nokia Growth Partner. “The car is becoming a kind of platform, as it was when phones turned into smartphones and then around them. applications and services began to appear.

Nokia began to develop its own mapping service with the acquisition of the American Navteq Corp. in 2008 for $8,1 billion, then the company bought the developer of 3D technologies for digital maps Earthmine Inc. in 2012 Nokia Maps is used by companies such as Amazon.com, Microsoft and Yahoo! and installed in 4 out of 5 car navigation systems.

Navigation systems are increasingly being used by car manufacturers, including for receiving real-time information about traffic congestion and for making automatic calls to emergency services in the event of an accident. In addition, a number of companies, including Google, Tesla, BMW and Toyota, are developing self-driving cars. General Motors has announced plans to build such cars by 2020.

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