Nokia Sells Headquarters Building

 

 

With less than impressive sales since Nokia announced they would be teaming up with Microsoft and the likes of Samsung steaming ahead in the smartphone market with their Galaxy S3, Nokia has not been having the best time of it lately.

 

Now it seems the Finnish company is releasing some capital by selling their headquarters in Espoo for €170 million. This doesn’t mean the company is done, they will be continuing to operate from the building but they will now be leasing it from the new owners.

 

This move will release some much needed funds to the company which perhaps can be used in a bid to get them back on top. Nokia dominated the marketplace for years with their innovative and affordable phones but they have been unable to keep up with the biggest sellers in the smartphone race such as the Apple #iPhone 5.

 

 

There was a rumour that Nokia could be looking to develop an Android phone after an advert for a Linux specialist was spotted. Whether this means they will be spreading their bets with something other than Windows 8 remains to be seen.

 

The sale of the headquarters building has been played down in a statement from CFO of Nokia Timo Ihamuotia who said “As we have said before, owning real estate is not part of Nokia’s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis.”

 

 

 

 

In June Nokia sold its Vertu subsidiary and now the headquarters building, so with all this cash flooding in what can we expect to see from the Finnish manufacturer? Watch this space.

 

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