When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

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

Report a problem with article
Next Article

Microsoft Surface ads show up in Washington DC subway

Previous Article

ASA UK Ban David Tennant and Virgin 'Buffering' TV Ad

Join the conversation!

Login or Sign Up to read and post a comment.

22 Comments - Add comment