More Independence for HERE
Following the regulatory approval of Microsoft’s acquisition of Nokia’s mobile assets (henceforth going through life as Microsoft Mobile Devices), HERE has been instated as an independently operating Nokia company led by Michael Halbherr, who was appointed as CEO. The new HERE is getting a head start, with Nokia’s 1Q 2014 financial results showing HERE's external net sales reached €185 million, a 13% year-on-year increase mainly driven by new automotive deals.
Nokia and HERE also launched the US$100 million Connected Car Fund, aimed at supporting the auto and location tech industries. This is somehow reminiscent of NAVTEQ’s role in driving the growth of the location ecosystem in the previous decade through initiatives such as the LBS Challenge and its support of location start-ups. And it seems the parallels go further than this, as HERE finds itself once more as a standalone location player, giving it more freedom to ...
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