Brandify Partner Spotlight: HERE Technologies Things To Know Before You Get This

A variety of other big tech business were also reportedly interested, and Facebook's switch to Here maps back in May set some tongues wagging. However  Did you see this?  seems the German vehicle giants were determined to have Here all to themselves. Why was Nokia's Here such a demanded home? And why did Nokia want to offer? Here's a quick wrap-up of how Here happened.

Here, a division of Nokia Success Story - Progress

Nokia ended up being associated with a 3D maps consortium called Tell, Maris, acquiring the underlying software application outright in 2006. It then made an existing mobile app called Smart2Go available free of charge download on Nokia and Windows Mobile gadgets. Quick forward to 2007, when Nokia obtained NAVTEQ for $8 billion. NAVTEQ was a service provider of digital map information for cars and truck navigation systems, smart phones, and other platforms.

Nokia Buys Navteq for $8.1 Billion - WIRED

About Rumors that Apple intends to acquire Nokia's map division for

A handful of smaller sized acquisitions later on, Nokia rebranded what had actually been called Ovi Maps as Nokia Maps in 2011, before altering the name yet once again to Here the following year. While Nokia has actually recently embraced other mobile platforms, with the launch of its GPS navigation app on both Android and i, OS, its huge appeal for third-party business depends on the quality of the mapping technology that underpins it.

And for many, Here is an even more enticing proposition than Google Maps, offered that Nokia's offering dishes out full offline access to whole nations and regions totally free. However while this was a huge selling point for users, it's not what business thinking about acquiring the service would have cared a lot about.

The 3-Minute Rule for Nokia completes Navteq acquisition - Telecom Asia

And back in December, Nokia scored a noteworthy offer with Chinese Internet giant Baidu Maps. Nevertheless, Here has been a huge gamer in the land of automobiles for a while, and it's said that Nokia's mapping innovation powers around 80 percent of in-car GPS navigation systems. Over half of Here's $1 billion profits in 2014 was created by the car industry.

For Nokia, the offer is everything about tidying up, combining, and restructuring. The business is a different monster from what it was when it obtained NAVTEQ 8 years earlier. It was clear that Here was becoming a progressively odd fit for the company. Likewise, according to Nokia's most current Q2 financials, Here accounted for less than 10 percent of profits, with only a little operating profit to reveal for it.