Nokia sells more real estate to raise cash
On Tuesday, Nokia told the Finnish Stock Exchange that it had sold its Peltola campus for 30.5 million EUR ($40.8 million USD). The buyer was a company called Technopolis which provides business space in the country. 37,600sqm of the campus is rentable space. Nokia will lease back a small portion of the building.
Despite some success with its current top of the line Nokia Lumia 920, the company remains an also-ran in the global smartphone industry. The one time leader in the global smartphone market, Nokia is expected to soon introduce a new high-end Windows Phone model with a camera sensor similar to the 42MP one that adorns the Nokia 808 PureView.
source: GlobalNewsWire via BGR
1. Johnnokia (Posts: 515; Member since: 27 May 2012)
Damn Elop.... Why the share holders are keeping him as a CEO till now ?????
Nokia is the best phone maufacturer ever and it is extremly sad to see it collapsing
Any way, I have a strong feeling that Nokia will come back, But when ?
Just fire Elop, Please ..
10. aneelamdani (Posts: 20; Member since: 16 Apr 2012)
get some classes on financial analysis and then you might understand why he isn't fired as yet
19. rusticguy (Posts: 2828; Member since: 11 Aug 2012)
He is not fired as Nokia is a shell company of M$ and Elop was planted by M$. All those theories of management and finance fail when it comes to ulterior motives :)
2. nikenturd (unregistered)
Yet their faith on the Windows platform seem stronger than ever..oh wow...give it up Nokia...you have comitted the blunder of the century , you had a good run tho
3. Kal-el (Posts: 91; Member since: 14 Dec 2012)
Does windows have fully rights over nokia?.... I dunno....if not why can't they make both windows and Android....HTC has both windows and android....nokia build and camera lens plus androids OS would equal a phone that would ideally destroy the competition....everyone can see that ....this CEO is an idiot.
4. wendygarett (unregistered)
Funny, a lot of investors wanna sack Stephen elop but now they remain silent? They finally agree every elop action? Lol
5. ChiX017 (Posts: 308; Member since: 09 Nov 2011)
Its a business, their forecast were going to be way worst. This is the best option for them with so much asset's they would raise a lot of money, as they finally recorded profit in a long time. Everyone things producing for Android would be better, i'm sure they don't know how difficult for Nokia to establish enough market share to even make profit in the crowded andriod market. Reason people, Elop is doing the right thing!
7. wendygarett (unregistered)
Elop MUST do the right thing!!! Otherwise reputation spoilt, sacked by Nokia, and unemployed forever... And I don't think ms will hire him back, since he's the one who quit ms for no reason
6. MC1123 (Posts: 1240; Member since: 12 Nov 2012)
so i guess nokia is suffering more than BlackBerry....
im sad for nokia!! i hope they now realize that WP isnt really the answer! i mean nokia is the real leader in innovation in the smartphone world! and symbian is the very first smartphone OS and also meego/maemo is the first mobile computing OS(remember maemo can run full linux apps on a phonesize, just like what ubuntu is planning to do)! so i still hope that they can keep the OS both!!! nokia can go on computers anytime with MeeGo/Maemo OS and support symbian coz belle fp2 really catch up with competition!!
but then again, ELOP is there! this is still a fantasy!
16. faisolbauuz (Posts: 121; Member since: 05 Jan 2013)
But the question is when ? Its already too late for nokia to make android phones they should make it since 2011 and they killed the meego os they already failed to conquer marketshare with wp7 and they still makes one for wp8 which still too young compared to android or ios and now there is BB 10 which is quite promising
17. nikenturd (unregistered)
nobody wants a Windows phone because it sucks...comparable Android handsets will always be a notch better
9. dilse (Posts: 25; Member since: 24 Aug 2012)
Nokia supports microsoft because they get some million dollars from microsoft which helps the company to run...
In favour of few million dollars, nokia lost billion dollars
13. aneelamdani (Posts: 20; Member since: 16 Apr 2012)
its not some, its actually a billion dollar in marketing, which helps nokia save their existing cash for other operations. I don't know why people bash at elop, check the ground realities, and come out of the android land
15. Bappy (Posts: 25; Member since: 29 Oct 2012)
You sir, should change your name from "Bigboss" to "BigDouche"
12. jcpwn2004 (Posts: 314; Member since: 18 Jan 2012)
I still don't understand why they couldn't have developed windows phone but had a few engineers make a stock android phone. People like choices.
Even making a phone with meego would have been nice.
14. Stoli89 (Posts: 333; Member since: 28 Jun 2010)
This is not really news, since Nokia has repeatedly stated its ongoing policy to divest non core assets on its balance sheet. If the real estate market can support a good sale price, with the option for Nokia to lease back an optimal amount of space,.all the better. It simply frees up cash for other activities.
Looks to me like the CFO is doing his job.
21. lyndon420 (Posts: 1735; Member since: 11 Jul 2012)
How's the partnership with ms treating you these days?
22. yazbuh (Posts: 28; Member since: 21 Jun 2012)
They don't realize it but Elop is a parasite that slowly killing nokia, he is just making it slowly but surely... Damn him.......
23. papss (unregistered)
Oh boy the retards are out in full force this morning.. Are we going with doom and gloom again? You are all like a pull string toy with the same comments. This means little so stop thinking its the end for them....also WP8 most certainly doesn't suck.. Keep you myspace OS and I'll keep buying all. Reason you don't like WP8 is because you are scared that it might one day overtake your s**t Linux based os
24. jroc74 (Posts: 4728; Member since: 30 Dec 2010)
Fight fire with fire...I mean fanboyism with fanboyism, huh?
25. jroc74 (Posts: 4728; Member since: 30 Dec 2010)
Anyway....I dont think this means the company is going bankrupt or out of business. They just making some real estate moves.