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2007 Nokia acquired Chicago-based company named Navteq spending $8.1 billion. If you look from the money point of view, it was overpriced from Nokia's point of view. On the other hand, I have always said that when there are happening company buy-outs in US, more money is used than the brain power, so Nokia had to play the local game.

When considering from the strategical point of view, the move was brilliant. Nokia discovered in very early time that the navigation will be essential part of mobile phone's function. They screwed up their mobile business due to the other reasons.

Last week Nokia published their Q3 result. Result was O.K. But, they did 1.2B euros write off due to the Here unit ( Navteq). The reason was the change of the strategy of the unit.

Hmm. It looks like they understood the overpricing and finally they found out the good excuse to do the write off. Am I right or...
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