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Nokia sells mapping unit for $3B

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Finnish telecommunications company Nokia announced today it sold its Here digital mapping unit to a consortium of German automakers, including Audi, BMW Group and Daimler, for 2.8 billion euros, or about $3 billion.

Nokia, which last year sold its once world-leading mobile phone unit to Microsoft for $7.6 billion, now focuses operations to focus almost entirely on its telecom network infrastructure business, according to the New York Times.

Its Here mapping unit is the largest global competitor to Google Maps.

Read more from the New York Times.

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