Nokia turns to smart...cars

After selling its smartphone division to Microsoft, it looks like Nokia will shift focus to smart...cars. The Finish communication giant did not withdraw from the tech ecosystem and it is even more determine to rebuild its name.

Car industry has always been big and on a constant run for technology. Nokia got the idea and will invest heavily into this. The Finish company announced its plans to invest 100 million US Dollars into companies that bring communication and computing technologies to cars. The investment will be run by Nokia's venture capital arm Nokia Growth Partners.

The plan was confirmed from inside. “Nokia Growth Partners has been consistently performing well bringing in both new innovative and financial return to Nokia. Our new 100 million dollar venture fund launched today further underlines our belief that the connected car is a significant growth opportunity where NGP is poised to make great investment,” told Rajeev Suri, Nokia's Chief Executive to cnet.com.

Nokia was already into car industry through its Navteq division. Navteq is a supplier of navigation data and maps and already, four out of five cars are running Nokia car-navigation systems. It's a crucial segment for the future of car-connectivity.