Nokia out to prove there’s life after Lumia by investing $100 million in smart car technology
Nokia may have sold its hardware division to Microsoft, but it's not resting on its laurels. Not only is it planning to bring some of its software services back to iOS and Android, but it is investing heavily in the emergence of the smart car.
Apple has already made in-roads into a business it believes to be vital in the future of a connected world, with its CarPlay platform, and now Nokia has announced it is to spend $100 million on companies developing technologies in the same sector.
"Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity," said Rajeev Suri, the company's recently appointed CEO.
Nokia already invests heavily in in-car software, through its Navteq division. A Nokia Drive app for Lumia smartphones also provides turn-by-turn navigation both on and offline. It can download maps and directions before travelling so will continue to work without an internet connection.