Nokia shopping around its Maps division, courting Apple

Nokia shopping around its Maps division, courting Apple 1

Nokia shopping around its Maps division, courting Apple

As Nokia is looking to sell off its struggling maps business, Bloomberg reports that the company has been approaching Apple and several other big name technology firms on the matter. In addition to Apple, Nokia is said to have been in contact with Amazon, Alibaba, Facebook, Sirius, Chinese search engine Baidu, a group of German carmakers, and some private-equity firms. Nokia is seeking more than 3 billion euros ($3.2 billion) from a sale of the division, with first-round bids due at the end of next week. Nokia’s mapping assets, purchased in 2008 for $8.1 billion, have depreciated to about 2 billion euros according to last year’s financial reports from the company. Nokia’s highly-rated maps app, HERE, is again available on the App Store after being pulled in late 2013 due to changes in iOS 7.

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