BMW Shares Nokia HERE Maps with Volkswagen and Daimler
Nokia has made quite a buzz with its special HERE Maps program for the last couple of months, undetermined whether to let it go to BMW, Volkswagen and Daimler, but after intense and tough negotiations, the program ended up into the pocket of the three important players in the auto industry.
Thus, BMW, Volkswagen and Daimler acquired Nokia`s HERE Maps for a whopping $2.71 billion. The three players will offer the navigation system to other car makers, such as Renault, Ford, General Motors, Fiat Chrysler, Peugeot or Toyota, free of charge.
Nokia is quite on a tight spot and the $2.71 billion profit would make it rise from the ashes and develop other technologies that would satisfy the needs of other important carmakers.
On the other hand, the three major auto players will continue developing the HERE Maps navigation system and perhaps sell it to the highest bidders.
BMW, Volkswagen and Daimler are the lucky winners of the world`s most important navigation system, with Baidu, Facebook, Uber and Alibaba failing to purchase the program, due to the $4 billion asking price that Nokia pretended.