Nokia To Sell Its HQ Building

Nokia To Sell Its HQ Building

October 3, 2012 0 By Swapneel Bandiwadekar

There’s a news going around in the web world that Nokia is evaluating its HQ building, perhaps to sell it in the future and raise some cash. Nokia’s recent decisions like embracing Windows Phone, haven’t proved to be beneficial for them, at least not yet.

With each new quarter, Nokia’s is feeling more and more heat and trying to raise some cash just to survive till the next one. Recently they sold few of their patents to raise the funds. Before that they had shut down factories, cut jobs to save operating costs. It doesn’t look like Nokia is doing recovery. And Nokia considering to sell their headquarter building is nothing but the sign of the crisis Nokia is going through. The estimated cost of their Nokia’s headquarter is around $387 million (€300 million). Nokia’s spokeperson has confirmed the news to TechCrunch but also said that there’s a possibility that Nokia will lease it back and that Nokia has no plans to move their HQ out Finland.

“As we said during Q2 results, Nokia is re-evaluating all non-core operations, including its real estate. However, we do not have any plans to move our headquarters…”

Their recently announced Lumia 920 is everyday making news but there’s at least a month before it actually lands on the shelves. Now there’s no chance for Nokia to turn around and chose the different path. They know the innovation but they need it to get it to the consumers before the competition. Hopefuly they’ll manage it.

Source | Image Courtesy: Wikipedia