Uber bids $3B for mapping service

Smartphone taxi service Uber has submitted a $3 billion bid for Nokia Oyj’s map service, dubbed Here.

The Finnish telecommunications company announced last month it was considering sale of its mapping service, which pulled in revenue of $1.1 billion in 2014, or 8 percent of Nokia’s total earnings.

Here is the default map system on Windows phones with about 100 million smartphone users. Nokia sold its handset business to Microsoft in April.

Although Google Maps has about 10 times the number of users via smartphone, Here accounts for 80 percent of in-car navigation systems, which has some automakers throwing their names in the hat alongside Uber.

Other bidders include German-based auto manufacturers BMW, Audi, Mercedes-Benz, Chinese search engine Baidu and an undisclosed private equity firm. Nokia is expected to pick a winner by the end of the month.

Read more from the New York Times.