Nokia sells Oulu campus for $40.8 million

Nokia has been going through some tough times lately. Battered from hard battles against Apple and Google the one dominant player in the mobile market, Nokia is now very slowly regaining its lost marketshare.  And even though last quarter they saw a comeback to profitability it is still not enough for the Finnish company.

Continuing to offload assets in a bid for liquidity Nokia announced it has sold its Peltola campus to a domestic business space provider, Technopolis for €30.5 million ($40.8 million). The campus is set in the Finnish town of Oulu. According to this deal Technopolis will acquire 37,600 square meters of office space but Nokia will lease back almost half of that on a long-term lease.

This deal closely mirrors the one from late last year with Exilion in which Nokia sold their Espoo headquarters for 170 million euros and then leased it back. It’s worth noting that this is not the first time Nokia has worked with Technopolis, the two companies having collaborated a few years back to help strengthen the ICT sector and generate competitive international business through an investment fund.

Source: GlobeNewsWire

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22 Comments

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Major Plonquer said,
NO. They would rebound if Apple fanbois weren't twice as thick as Nokia customers.

I'll never understand why so much people here assume that someone who buys an apple product bought it because he is a fanboy and not because the product is great but when another person buys a Microsoft/Nokia/AnyMSsubsidiary product he certainly without any doubt bought it because it is an awesome sauce incredible perfect product.

You know maybe, just maybe, people buy the iPhone cause it's a great phone. Maybe.

LaP said,

I'll never understand why so much people here assume that someone who buys an apple product bought it because he is a fanboy .

Wellcome to Neowin...

Fritzly said,

Wellcome to Neowin...

Yeah i know The worst is i don't even care about Apple. The only Apple product i ever owned is an iPod Touch 4th gen (love it). And i bought it using a gift card i got for christmas 2 years ago. It just bothers me that owning one apple product automatically makes me an Apple fanboy in the mind of some people here XD

Anyway i'm a perfectly happy Galaxy S 2 owner so i don't care too much lol

i guess Nokia is really falling down.. wonder if i should get a 920 or just go for something else as seems they won't have much left before closing totally...

AlexMagik said,
i guess Nokia is really falling down.. wonder if i should get a 920 or just go for something else as seems they won't have much left before closing totally...

Nokia aren't going anywhere.

AlexMagik said,
i guess Nokia is really falling down.. wonder if i should get a 920 or just go for something else as seems they won't have much left before closing totally...

just because a company doesn't want to own property, doesn't meant they are closing..... most normal businesses don't own their land, they lease it...

neufuse said,
just because a company doesn't want to own property, doesn't meant they are closing.....

No, but Nokia has lost over 90% of its share value over the past five years. The Lumia range isn't doing enough to increase Nokia's market share, in part because Windows Phone is struggling to gain traction in the market place. The fact that Nokia is continuing to sell off property doesn't bode well for the company.

theyarecomingforyou said,
No, but Nokia has lost over 90% of its share value over the past five years. The Lumia range isn't doing enough to increase Nokia's market share, in part because Windows Phone is struggling to gain traction in the market place. The fact that Nokia is continuing to sell off property doesn't bode well for the company.

It is clear you're ignorant as to why they're selling it off - that the money is better spent on developing products than tying it up in property; are you a property owning organisation or an organisation whose main focus is developing products and selling them?

that's the problem, it kept losing shares, always close the fiscal year in huge lost...
also mid-low businesses lease their land, big ones own the lands.

Mr Nom Nom's said,
It is clear you're ignorant as to why they're selling it off - that the money is better spent on developing products than tying it up in property; are you a property owning organisation or an organisation whose main focus is developing products and selling them?

Ignoring the petty insult, Nokia wouldn't need to be selling off property if it wasn't in such bad shape financially - the company lost €3.1bn last year and has seen its stock price plummet. If you want to pretend this is just a minor strategic refocusing effort then go ahead but you're not fooling anybody else.

thanks to the property selling and smart phones sales the company has increased their stock price and sales, they are now in the profit side, so why u don't go troll somewhere else, cause you don't know a thing about it

erikpienk said,
thanks to the property selling and smart phones sales the company has increased their stock price and sales, they are now in the profit side, so why u don't go troll somewhere else, cause you don't know a thing about it

While it's true that Nokia returned to profitability in the final quarter, in order to do so it didn't pay a dividend to shareholders - that's the first time in 20yrs. But that was only for the final quarter, as Nokia still lost money for the year as a whole. As for smartphone sales, they have actually dropped by 4 million since the year before. http://www.bbc.co.uk/news/business-21180375

Share price: http://uk.finance.yahoo.com/ec....DE#symbol=noa3.de;range=5y (down by 91.83% over 5yrs)
Financial information: http://en.wikipedia.org/wiki/Nokia (net income was -€3.106 billion; operating income was -€2.303 billion)

The company finished 2012 with net cash of €4.4bn - down 22% from last year. While there are certainly some positive indicators, credit agencies still rate Nokia's stock as junk with a negative outlook (http://news.cnet.com/8301-1001...kias-credit-rating-to-junk/).

To summarise, what you said it utter nonsense and I have to question your agenda.

theyarecomingforyou said,

No, but Nokia has lost over 90% of its share value over the past five years.

If we pick arbitrary time periods then the rate Apple shares have dived in the past months makes them look like one of the most fragile companies on the planet right now.

lt8480 said,
If we pick arbitrary time periods then the rate Apple shares have dived in the past months makes them look like one of the most fragile companies on the planet right now.

That's not what I did, though. Looking at long term trends is a valid way to judge the performance of a company. Using the same criteria Microsoft's stock price has remained static, whilst Apple's has increased by nearly 300%. And in case you didn't notice I also included forecasts by credit ratings agencies, articles about the performance of the company and financial information.

I supplied supporting evidence for my opinion, which is more than any other poster did. The evidence clearly demonstrates that Nokia is struggling at the moment.

People who don't seem to understand the words "profitability" and "liquidity" would be better off buying an iPhone. 920 is maybe too powerful for them - they might get confused and think they have to wear gloves to touch it. They fit the Apple brand to a T. (Not a Nokia 920T though).

Well, err, yes it is just a minor issue. Why would a phone company choose to have its assets tied up in land? In a fast-moving game like mobile phones the key to being a player is liquidity, not balance sheet.

Major Plonquer said,
Well, err, yes it is just a minor issue. Why would a phone company choose to have its assets tied up in land? In a fast-moving game like mobile phones the key to being a player is liquidity, not balance sheet.

Land is an asset, not a cost, add value to the company, leasing is a cost, and it affect the value of a company negatively. Said that, Land doesn't get depreciate, actually increases value every year, so it's a good way to hold good money and yearly incremental, so why not? it's like having money in bank, but with possibly better profitability, counting that you could have your office there, means there are virtually zero costs compared to leasing.

Anyway, doesn't really matter.. i'm not paid by neither apple or nokia, so i couldn't care less of the above trolling and insulting, it's just a bunch of retarded fanboysm.

I was simply asking opinion if getting a 920... btw anybody can explain what the difference between 920 and 920t? i can't find anything online.

AlexMagik said,

I was simply asking opinion if getting a 920... btw anybody can explain what the difference between 920 and 920t? i can't find anything online.

If I remember correctly the 920t is a variant for the China market, not absolutely sure though.

Fritzly said,

If I remember correctly the 920t is a variant for the China market, not absolutely sure though.

i'm reading somewhere that also have the new GPU 320 (or something like that) that supposedly 2 or 3 times faster than the original 220.
just trying to figure out if was someone dream or real... just can't find a place that state it clearly and confirmed...