An interesting article on Reuters looks at Nokia and their latest announcements coming out of Nokia Connections. On such announcement brings up Navteq.
You would hardly know it but Nokia owns Navteq and has for some time now. The Finnish device maker, seen by many as fledgling and gasping for air, is apparently now looking at rolling Navteq into the fold and hoping that LBS may result in LB$.
This from the article…
Nokia said on Wednesday it would incorporate Navteq, an independent unit specializing in the fast-growing digital mapping, into its broader services business.
Map-linked advertising, key to generating cash from location-based services, is starting to take off and is expected by Pyramid Research to grow to over $6.2 billion by 2015.
Nokia Chief Executive Stephen Elop also named Michael Halbherr, an outspoken executive who joined Nokia in 2006, to lead the new Location & Commerce business line.
Halbherr was the mastermind behind Nokia’s $8.1 billion 2008 acquisition of Navteq, the world’s largest digital map maker, in the largest-ever takeover by the 146-year old company.