14 DAY TRIAL // Since Nokia has sold its mobile division to Microsoft, the Finnish company has remained with only three businesses: Nokia Networks, HERE and Nokia Technologies.
The first one focuses on network infrastructures, while the second is Nokia's location intelligence business that is also known as HERE Maps. The last one, Nokia Technologies focuses on technology development and is responsible for licensing patents.
Today, a new report coming from Bloomberg claims that Nokia is now looking to sell HERE, so it can solely focus on the wireless-network infrastructure business.
Sources close to the matter report that Nokia has already approached possible buyers, such as Uber Technologies and a group of German car manufacturers that has also shown interest in getting the maps service business.
According to the same report, Nokia seems pretty determined to get rid of HERE and the first bids on its subsidiary are expected to arrive this month.
If the offers are not high enough, Nokia might keep HERE
Apparently, HERE is now valued at around €2 billion ($2.1 billion), but the Finnish company may sell it for much less if the bidding doesn't go high enough.
In the meantime, Nokia is reportedly working with a financial adviser to determine the exact value of the HERE division, so in case the bid it receives doesn't meet the estimated price, plans for a sale could be abandoned.
Analysts believe that with the sale of HERE, Nokia will try to acquire one of its long-time rival in the network infrastructures, Alcatel-Lucent.
Bottom line is, Nokia wants to exclusively focus on the wireless-network business, which currently brings about 90% of the company's revenue.
We will find out more about Nokia's HERE business in the next couple of weeks, if the bidders make a high enough offer. Stay tuned for more on this one.