Nokia’s Windows Phone transition has been a bumpy road. The company is bleeding huge amounts of cash every quarter and it’s hard to see the light at the end of the tunnel.
To counter those losses it has been slashing jobs, selling plants, and now it had to cut even closer to the bone.
Nokia has just agreed to sell its Espoo headquarters for 170 million euro (nearly $222 million).
"We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. 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," Nokia’s chief financial officer Timo Ihamuotila said.
So basically Nokia just sold and leased its own headquarters. The sale is expected to become final by the end of the year. Earlier, it was speculated that Nokia could get more than 200 million for its headquarters, but we would not be surprised if the lower price reflects some kind of a long-term lease deal.
Victor, a seasoned mobile technology expert, has spent over a decade at PhoneArena, exploring the depths of mobile photography and reviewing hundreds of smartphones across Android and iOS ecosystems. His passion for technology, coupled with his extensive knowledge of smartphone cameras and battery life, has positioned him as a leading voice in the mobile tech industry.
Recommended Stories
Loading Comments...
COMMENT
All comments need to comply with our
Community Guidelines
Phonearena comments rules
A discussion is a place, where people can voice their opinion, no matter if it
is positive, neutral or negative. However, when posting, one must stay true to the topic, and not just share some
random thoughts, which are not directly related to the matter.
Things that are NOT allowed:
Off-topic talk - you must stick to the subject of discussion
Offensive, hate speech - if you want to say something, say it politely
Spam/Advertisements - these posts are deleted
Multiple accounts - one person can have only one account
Impersonations and offensive nicknames - these accounts get banned
Moderation is done by humans. We try to be as objective as possible and moderate with zero bias. If you think a
post should be moderated - please, report it.
Have a question about the rules or why you have been moderated/limited/banned? Please,
contact us.
FCC OKs Cingular\'s purchase of AT&T Wireless
Things that are NOT allowed: