Nokia sells Here maps unit to Audi, BMW, and Mercedes for $3 billion

Nokia might be expanding into areas like VR, but it's no longer in the maps business — it's just sold its Here unit to a consortium of German carmakers including BMW, Audi, and Mercedes' parent company Daimler. The final price was €2.8 billion, or just over $3 billion. The Wall Street Journalreported two weeks ago that the deal had been agreed in principle, and that the consortium plans to invite other carmakers to invest in the new business.