CEO Rajeev Suri has revealed Nokia’s latest Consumer market push. He was speaking at the 18th Nikkei Global Management Forum. Nokia plans to leverage strength of its Networks business and recently acquired Digital Health business Withings. Withings has a very strong portfolio of “connected Products”.

As per a report published in Nikkei Asia,

Wielding an “extremely strong” brand, Nokia seeks to reinvent itself through Withings, a wearable healthcare devices company, in an ever-changing landscape in the technology and network sector.

“We think the opportunity for us to go into the [consumer market] and to combine it with the network business we have is powerful,” said Suri.

The opportunity that Nokia sees is not just confined to healthcare but also to the wider ‘programmable world’ that connects objects to data used in utilities and autonomous driving.

Through innovations in virtual reality and sensory devises enabled by 5G wireless technology, Nokia is working on products that could help prevent wastage in leaking pipes and power outages.

Nokia is planning to use 2020 Tokyo Olympics as the big first push.

Nokia cited working with industry players in Japan to prepare for the 2020 Tokyo Olympics as one example, through such means as deploying 5G in video analysis.

“Japan is in a sweet spot,” said Suri, adding that 5G will be commercialized by then.