Nokia, Bowing to Smartwatch Dominance, Sells Digital-Health Unit

Nokia Oyj was the world’s dominant mobile-phone maker until it suffered a humiliating collapse after underestimating the appeal of smartphones made by Apple Inc. and others. Now, Nokia looks to have made a similar miscalculation on smartwatches. Nokia announced plans Wednesday to sell off a digital-health business it acquired just two years ago to capitalize on the popularity of wearable fitness trackers such as those made by Fitbit Inc. Since then, however, makers of the gadgets have struggled as competitors such as Apple introduce similar features on their smartwatches.