Nokia will invest in enterprises engaged in car networking

Tencent Technology News May 5 news, Nokia said on Monday that it has launched a 100 million US dollars fund, will invest in automotive networking companies.

Nokia said the fund, which is run by Nokia Growth Partners, a unit of venture capital funds, will work with HERE, Nokia's location-based applications division.

Nokia CEO Rajeev Suri said: "We are launching a new $ 100 million venture capital fund today to further underscore our belief that connected car is a significant growth opportunity."

As a former mobile phone business leader, Nokia in the peak of 2008 accounted for 40% of the global mobile phone market share. However, due to the lack of smart phone market Apple iPhone and equipped with Android operating system devices, Nokia's market share began to shrink. Although trying to align with Microsoft and other measures, but still can not reverse the company's decline.

In the end, after a cumulative loss of more than 5 billion euros in nine quarters, Nokia decided in September last year to sell the handset business to Microsoft.

After selling the handset business, the remaining three main businesses of Nokia are: the network division which accounts for 86% of the company's operating profit; the mapping service; and the technology development and licensing department. Nokia said it expects the network operating profit margin this year will reach 5% to 10%. In addition, the company's revenue from the second half of this year is expected to achieve year-on-year growth.

May 1, assuming the new CEO Su Li, now 46 years old, has been serving in the Nokia network for about 20 years, in charge of NSN four years. Surui was born in India and studied electrical communications at Mangalore University in India.