Nokia planning to invest in intelligent cars – report

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Nokia is planning to invest US$100 million in companies that develop intelligent-car technologies, joining the likes of Tesla founder and CEO Elon Musk and Google in betting on smarter vehicles for the future, according to a Bloomberg report.

The investments, to be made by a new Nokia fund, are meant to support the company’s digital-map business, Nokia told Bloomberg. It’ll be run by Nokia Growth Partners, the venture-capital arm that manages about US$700 million.

Nokia sold its mobile-phone unit to Microsoft Corporation for about US$7.5 billion last month. While most of the Finnish company’s revenue now comes from wireless-network equipment, it also seeks to make its maps business more competitive against rivals like Google, the report says.

“We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,” Nokia venture-capital arm partner Paul Asel said in an interview.

“The car is really becoming a platform like when the mobile handset became a smartphone and all the apps and services developed around that.” Nokia is discussing the new fund today at the Global Mobile Internet Conference in Beijing.

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Jonathan James Tan

While most dream of the future, Jonathan Tan dreams of the past, although he's never been there. Fantasises much too often about cruising down Treacher Road (Jalan Sultan Ismail) in a Triumph Stag that actually works, and hopes this stint here will snap him back to present reality.

 

Comments

  • shawal on May 07, 2014 at 12:23 pm

    Current crop of drivers are bad enough
    They want to further distract them of the road

    All we need is a good gps with real time traffic update for alt routes… And if all cars uses the same platform, communicate with each other to regulate traffic flow, even better (semi autonomous)

    Nokia couldnt even recapture the smartphone market because of ego, not wanting to adopt to android platform (like the.rest of their former symbian partners)… Eventually tweaked n creep in to produce the x series..

    My moolah is on google… But not fully autonomous vehicle…unless their handicapped / elderly

    Like or Dislike: Thumb up 4 Thumb down 7
    • Chris (Member) on May 07, 2014 at 12:59 pm

      I would shun Nokia if they move to Google. I actually applaud them for making an Android device with little to no Google in it.

      Biased opinion aside, Nokia/Navteq’s map is superior to what Google has to offer. However since Google’s Waze acquisition, their traffic report as well as ETA appears to be more accurate, if you can accept the less complete data google map provides.

      Nokia/Here map could have a big boost if they could implement their map in every car and harvest the traffic data and/or driving pattern, improving route finding.

      That said, every company is improving, hopefully introducing technology that actually works instead of gimmicks to make money.

      Like or Dislike: Thumb up 5 Thumb down 2
      • vanhoe on May 07, 2014 at 4:42 pm

        Nokia map even have data on kampung roads.

        Like or Dislike: Thumb up 6 Thumb down 0
      • Henry Ford the XII on May 07, 2014 at 5:19 pm

        Chris,
        What do you mean by “…making an Android device with little to no Google in it.”?
        I thot Android is an OS developed by Google?

        Like or Dislike: Thumb up 0 Thumb down 2
        • Chris (Member) on May 08, 2014 at 11:07 am

          Long story short: No.

          Google bought Android. It’s too long to explain, but it’s possible to have an Android device with no Google in it (No google play store, no maps, cannot sync with google etc).

          Nokia X is one of it, another one would be Amazon’s Kindle if not mistaken. They need third party app stores.

          Like or Dislike: Thumb up 0 Thumb down 0
    • Android is a laggy, buggy OS full of malware and issues, im so GLAD they chose a different path.

      Like or Dislike: Thumb up 4 Thumb down 5
      • Chris (Member) on May 08, 2014 at 11:11 am

        They were good a few years ago. But since I do not use Google services, a stock Android device is useless for me.

        Used to be able to find good apps and games on it, but now half the apps/games have intrusive advertisements, and is just a pain to use.

        Like or Dislike: Thumb up 0 Thumb down 0
    • qwerty on May 08, 2014 at 9:27 am

      I guess you didn’t know a lot of car manufacturers are actually using Here Maps (Nokia Maps then) in their cars.

      Like or Dislike: Thumb up 0 Thumb down 0
      • Here is a Joke on Nov 19, 2014 at 8:25 pm

        Here is a Joke :) A lot of car manufacturers are stupid to use outdated maps.

        Today we have Waze and it’s free dont have to pay for Here’s Maps.

        Like or Dislike: Thumb up 0 Thumb down 0
  • jolly_idiot (Member) on May 07, 2014 at 6:42 pm

    I thought Nokia has filled for bankruptcy? Still think big in investing?

    Like or Dislike: Thumb up 0 Thumb down 4
    • qwerty on May 08, 2014 at 9:16 am

      That’s what you thought, mate. Nokia’s cash in hand is around 70 billion Euro. It’s their handset department that has been sold.

      Nokia, in a whole, is still earning big money from its wireless tech. Whenever a company makes a phone, Nokia makes money by licensing GSM patents.

      Like or Dislike: Thumb up 1 Thumb down 0
    • Chris (Member) on May 08, 2014 at 11:15 am

      Microsoft bought Nokia’s phone department for one bajillion Zimbabwean dollar.

      Like or Dislike: Thumb up 0 Thumb down 0
  • Alright, when car accident the car player will still be tough!!

    Jokes aside, srsly i like nokia maps too, much better than google maps which doesnt update malaysia maps

    Like or Dislike: Thumb up 6 Thumb down 0
 

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