Nokia to sell line fit automotive business to Novero

World’s largest mobile phone maker Nokia has revealed that they are now going to sell their line fit automotive business to Germany’s Novero GmbH.

The two companies have not revealed the financial aspects of this deal. They expect the deal to be complete by next month.

Nokia added that the employees in this division would continue to work for the unit’s operations in Bochum, Dusseldorf and Detroit.

Novero is headed by former head of Nokia’s enhancements unit, Razvan Olosu. It is also partially owned by the German private equity firm Equity Partners.

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