Nokia confirms sell off Finland HQ buildings [Update]

Nokia have been publicly struggling to regain some kind of major foothold in the smartphone market for the past few years. A controversial partnership with Microsoft saw them as the premier partner for the Windows Phone OS. But with both Microsoft and Nokia arriving, what can only be described as late, to the party with RIM, Apple and Google already in attendance, time is something that Nokia might not have much more of to turn their fortunes around.

Following job cuts and the shutting of sales offices, reports are now starting to surface that Nokia would consider disposing of non-core assets, one of which is their Finnish headquarters in Espoo. Nokia spokeswoman Maija Taimi told Reuters:

We are evaluating different options for non-core parts, such as real estate holdings, and that includes the headquarters.

With the building worth anywhere between 200 and 300 million euros ($259-388 million), it would definitely help top up their dwindling cash reserves. It was in July that Nokia told its investors that they were looking to sell their properties.

While Nokia aren’t pinning all their hopes on the Lumia range, 2011 still saw Nokia sitting top of the tables when it came to mobile device shipments; 422.4 million of them. But with the emergence of smartphones for all budgets, that Nokia 100 or C1-01 might not cut it anymore.

Update: And Nokia have confirmed that they are evaluating the possibility of selling, but would likely lease it back. They also say they have no plans to leave Finland.

Source: Reuters | Image via Wikipedia

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It depends also of availability of availability of new Nokia phones. Unfortunately, in my country, older models launched in 2011 have appear only this summer. And the 800 is still very hard to find. And I live in EU.
Seems that since his partnership with Microsoft, Nokia is more US oriented, letting the rest of the world behind.

Nokia will be ok once the 920 is finally released. Loads of people want that phone, including me, and i already have a GS3 but thats getting sold.

NoClipMode said,
Nokia will be ok once the 920 is finally released. Loads of people want that phone, including me, and i already have a GS3 but thats getting sold.

I am buying each color so I can coordinate with my clothes.

NoClipMode said,
Nokia will be ok once the 920 is finally released. Loads of people want that phone, including me, and i already have a GS3 but thats getting sold.

Define loads. People on tech forums don't count and the average consumer still has no idea that WP exists so just as before, WP will be largely ignored by the buying public. I don't think the 920 is going to do much for them overall.

Just a note on the update. It says that they are confirming that they are selling the building. However that's not what the linked article actually says.

It says:

"Nokia is re-evaluating all non-core operations, including its real estate. However, we do not have any plans to move our headquarters,” a spokesperson said in an email (emphasis Nokia's).


That's not a declarative statement. It's saying, we're thinking about it & seeing if it would make sense.

Also leasing buildings makes sense in a lot of cases. You'd be surprised how many big companies up here in Washington State lease their offices, even though they are built to spec & look like all the other buildings that belong to that company.

Shane Nokes said,
That's not a declarative statement. It's saying, we're thinking about it & seeing if it would make sense.

Yeah, I was gonna say, I don't read anything that "confirms" any kind of building selling plans, just some thought and speculation.

Shane Nokes said,
Just a note on the update. It says that they are confirming that they are selling the building. However that's not what the linked article actually says.

It says:

"Nokia is re-evaluating all non-core operations, including its real estate. However, we do not have any plans to move our headquarters,” a spokesperson said in an email (emphasis Nokia's).


That's not a declarative statement. It's saying, we're thinking about it & seeing if it would make sense.

Also leasing buildings makes sense in a lot of cases. You'd be surprised how many big companies up here in Washington State lease their offices, even though they are built to spec & look like all the other buildings that belong to that company.

It could just be a poor written article. Maybe the writer asked Nokia "Why are you selling" as if it was fact.

Either way, it doesn't confirm a thing.

What they are doing is actually what many companies in Finland have done. In some cases it is cheaper to lease the building instead of owning it fully.

I lol'ed that RIM was mentioned first in the list.

I think WP8 is going to catch on big, and Nokia will benefit in a huge way. The iPhone 5 hype didn't seem over the top like usual, and I'm actually hearing more talk of people wanting Lumia 8/920s more than I'm hearing any talk of the iPhone 5.

Except Apple Maps.

Note. Not a fanboi of any brand of OS. I own, and enjoy them all for different reasons.

Nashy said,
I lol'ed that RIM was mentioned first in the list.

I think WP8 is going to catch on big, and Nokia will benefit in a huge way. The iPhone 5 hype didn't seem over the top like usual, and I'm actually hearing more talk of people wanting Lumia 8/920s more than I'm hearing any talk of the iPhone 5.

Except Apple Maps.

Note. Not a fanboi of any brand of OS. I own, and enjoy them all for different reasons.

Not true in my country. No one seems to know Lumia 920 over here or even Windows Phone series. Tons of Apple fanboys I guess.

tanjiajun_34 said,
Not true in my country. No one seems to know Lumia 920 over here or even Windows Phone series. Tons of Apple fanboys I guess.

Do you live in Tanzania?

ingramator said,

Do you live in Tanzania?

probably North America where absolutely no one outside of tech websites knows what a Windows Phone is...and if heard the word "windows" in reference to a phone would automatically associate it with "bland"

Sonne said,

probably North America where absolutely no one outside of tech websites knows what a Windows Phone is...and if heard the word "windows" in reference to a phone would automatically associate it with "bland"


Maybe there, but around here people seem to know Nokia is back in action. But they'll see. Nokia used to be total king in Netherlands. I do notice several people around me with S3's. But they're not to happy with it, easily scratches, still (even bobo's) notice allot of framedrops for no apparent reason. And have yet to see anyone with an iPhone5 yet.
Just a month left, im currently stuck with a 6310i (from 2004, still works smooth) and waiting for the beginning of november

Shadowzz said,

Maybe there, but around here people seem to know Nokia is back in action. But they'll see. Nokia used to be total king in Netherlands. I do notice several people around me with S3's. But they're not to happy with it, easily scratches, still (even bobo's) notice allot of framedrops for no apparent reason. And have yet to see anyone with an iPhone5 yet.
Just a month left, im currently stuck with a 6310i (from 2004, still works smooth) and waiting for the beginning of november

That's a really, really, really old phone.

ingramator said,

Do you live in Tanzania?

Nope Singapore. Whereby everyone is just iPhone and a bit of Samsung crazy Lie to yourself if you want. More people still desires an iPhone even if there is no reason and just because its by Apple. Well not me of cos.

tanjiajun_34 said,
Nope Singapore. Whereby everyone is just iPhone and a bit of Samsung crazy Lie to yourself if you want. More people still desires an iPhone even if there is no reason and just because its by Apple. Well not me of cos.

Not denying that it's probably the most popular. The hype is diminishing though.

georgevella said,
They have no one else to blame but themselves. They sat around doing nothing while Apple stole their pie.

Absolutely agree, steve jobs changed the mobile industry and nokia lately perceived this fact that it was almost too late, only google now survived in this arena after apple. I don't think even Tim Cook new apple CEO understand how much intense is the market. If he would, he wouldn't have released unfinished crappy map software that even with his apology is affecting iphones sale dramatically... I like Nokia but as you said no one else has to be blamed but themselves and is not because of windows phone or anything. its because they were having a deadly nap past 10 years.