Apple being wooed by Nokia for $3.2B HERE mapping acquisition, report says
A report on Wednesday claims Apple is among a number of high-profile tech companies being courted by Nokia in the Finnish firm's attempt to sell off its HERE mapping service and related assets.
Citing sources familiar with the matter, Bloomberg reports Nokia's list of potential buyers reads like a who's who of the tech industry, and includes Apple, Amazon, Alibaba, Baidu, Facebook, Sirius XM and Harman International, as well as German automakers and private holdings firms.
The person said Nokia is seeking more than 3 billion euros (roughly $3.2 billion) for HERE's mapping assets despite the cache being valued at $2.14 billion last year. Nokia's investment in HERE's technology, including those got through acquisitions like NAVTEQ, was pegged at $8.1 billion in 2008, the publication said.
It is unclear when Nokia is to officially put HERE up for bid, but Bloomberg reported earlier in April that the company is working with a financial advisor toward that goal.
For Apple, the addition of HERE could play an important role in the buildout of Apple Maps, which drew criticism when it launched in iOS 6. Two and a half years later, Maps still lacks basic features like mass transit data, though Apple is working on enhancing backend support.
Interestingly, Nokia recently revamped the iOS version of HERE and returned the app to Apple's App Store after a 15-month hiatus.
Citing sources familiar with the matter, Bloomberg reports Nokia's list of potential buyers reads like a who's who of the tech industry, and includes Apple, Amazon, Alibaba, Baidu, Facebook, Sirius XM and Harman International, as well as German automakers and private holdings firms.
The person said Nokia is seeking more than 3 billion euros (roughly $3.2 billion) for HERE's mapping assets despite the cache being valued at $2.14 billion last year. Nokia's investment in HERE's technology, including those got through acquisitions like NAVTEQ, was pegged at $8.1 billion in 2008, the publication said.
It is unclear when Nokia is to officially put HERE up for bid, but Bloomberg reported earlier in April that the company is working with a financial advisor toward that goal.
For Apple, the addition of HERE could play an important role in the buildout of Apple Maps, which drew criticism when it launched in iOS 6. Two and a half years later, Maps still lacks basic features like mass transit data, though Apple is working on enhancing backend support.
Interestingly, Nokia recently revamped the iOS version of HERE and returned the app to Apple's App Store after a 15-month hiatus.
Comments
Waste of money. Offer them $500 and an Apple Watch Edition for their CEO.
The maps data was one thing Nokia held out specifically during the sale of shit to MS. Maybe they were trying to leverage it during the sale and got stuck with it. If it has any real value, it is the map's reputation with European smart phone users.
Apple has moved a long way down the road fleshing out their own maps. The time to dangle this in front of Apple may have long since passed. As an American I can't see any benefit, but I do understand Europeans have a different experience with Apple Maps...maybe even Asians.
I'd like to hear how the rest of the world sees the Maps issue...
It would properly take Apple 320 Million and a few more years to get there.
Why spend 3.2 Billion now?
And I dont think HERE does great in China Mapping either.
You have no idea how bad apple maps on this side of Atlantic (especially in Eastern Europe and former-USSR, which account for ~300mln ppl). If I were in any position to vote in this matter - I would strongly advice to buyout HERE
300 million people, perhaps, but probably not a large market for Apple with the currency and political issues.
Still, it is a big market with quite potential. Apple knows that, they are actively expanding here lately. Also, there are other places outside US and Eatern Europe - where Apple Maps s**ks, really badly... My friends from India, Latin America never uses their app
You have no idea how bad apple maps on this side of Atlantic (especially in Eastern Europe and former-USSR, which account for ~300mln ppl). If I were in any position to vote in this matter - I would strongly advice to buyout HERE
300 million people, perhaps, but probably not a large market for Apple with the currency and political issues.
Maybe Apple just might want to do something to improve its sales in Europe... naw...
A sale would make sense. The talent alone. I would imagine maping is something daunting that taxes Apple employees and wearing them thin.
I think you're right...I'm not too sure how anxious the "talent" would like to be part of the sale - seeing how well the smart phone "talent" fared once they were bought by Ballmer... "Here's your workspace, but don't get too comfortable."
China does not allow outside mapping services. You are required to license your data from one of the Chinese owned services.
Google still has some roads off by 50m, also road/highway names are difficult since international you have Official Local & inter names plus
"known by" as in India so it's difficult to find just by name.
You look @ the Sat imagery to compare.
I have noticed though that the images on Apple Maps & Here share the same image data but Apple has higher Definition to HERE!
Another thing is looking towards Apple bringing Web based Maps, well HERE already has a good design plus most remote places roads etc are mapped
South America, Trinidad, Apple has too but not all or very little of roads marked or mapped out.
Downloaded Madrid and the Andalusia region. Awesome. We shut off the GPS in the rental car, way too complicated. The HERE App in the iPhone 6 worked great! Back in USA, I downloaded the USA map.
it will figure out routes in no time flat. Garmin sits there calculating, calculating ...
The maps for HERE are from NAVTEQ, and so are the Garmin maps.
Every time a I get into the car, Garmin GPS reminds me that i need to udate the maps. Really? at $89?
I have on order a windshield mount for the iPhone 6. Good bye Garmin.
Why spend 3.2 Billion now?
The story is that Nokia invested about 8.1 Billion on Here Maps. Even selling at 3.2 is a huge loss. That being said, there is no solid information that Apple is even considering this offer. The rumour is that Nokia wants to sell and is courting Apple, among others.
As you and others here have rightly said, Apple has invested a lot into its mapping app and this would be pointless, unless they work out a deal for "rest of the world" where Apple Maps isn't that great.
Apple Maps is used all the time and it is good.
Do I use google maps the answer is no need because Apple's is just as good.
Maybe Apple just might want to do something to improve its sales in Europe... naw...
I somehow doubt Apple maps dissuades anyone from buying an iPhone, especially since Google Maps is also available as a FREE download. Should Apple keep improving its own maps? Of course. Does it have any kind of negative impact on sales? Doubt it.
Apple Maps is used all the time and it is good.
Do I use google maps the answer is no need because Apple's is just as good.
Apple Maps is excellent, in certain countries and downright crap in others. It's great that Apple Maps works for you, but for a large percentage of Apple's customers world wide (who likely pay more than you do for their phones) the experience is sub par.