There was a time when Nokia was the undisputed king of mobile phones, with quarterly sales of over 120 million units as recently as 2010. But after a failed partnership ended with Nokia selling its handset division to Microsoft, the company tried reinventing itself by pivoting to wearables, a move capped off when Nokia bought Withings, a French health tracker company, for $US190 million ($241 million) in June of 2016.
Tagged With health tech
Measuring your blood sugar may be weirdly trendy, but it you're one of the 30 million Americans with diabetes, it's mostly a pain. A literal pain. People with diabetes either have to prick their fingers and draw blood or wear a monitor with a tiny tube inserted into their skin to continuously measure glucose in the fluid between cells. And sticking a needle in yourself isn't exactly pleasant.
On the surface, it makes sense. Healthy people generally cost insurers less, so why not encourage policyholders to live healthfully by doling out perks and discounts, and then track them to make sure they're sticking to their end of the bargain? This was the logic that spurred one the US's largest life insurance providers, John Hancock, to offer massively discounted Apple Watches to customers. But there's a major hitch: by tracking all that data, policy holders may be giving away a lot more than they realise.
The Apple Watch hasn't exactly been the breakout hit that Apple hoped it would be. Increasingly, though, Apple has been turning its attention to a market where the watch could still hit it big: insurers.