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Nokia Pumps $250 Million Into Mobile Tech Startups

Nokia finally had a profitable quarter. Now it's spending a quarter of a billion dollars investing in the future.

Nokia Pumps $250 Million Into Mobile Tech Startups

Nokia has said it's going to invest $250 million into its own worldwide ventures effort, Nokia Growth Partners. The fund invests in mobile communications tech startups.

Nokia explained the deal by saying NGP's investments are all about creating a "vibrant mobile ecosystem" and supporting "industry innovators to build great mobile products." TheNextWeb points out that NGP has received hundreds of millions of dollars from Nokia, such as a $150 million investment from 2008.

Nokia is in the spotlight at the moment as it struggles to assure its future income from sales of smartphones, and simultaneously attempts to deliver cross-platform services that rival its smartphone-maker peers.

[Image: Flickr user whatleydude]