Nokia Sells Espoo HQ For A Couple Hundred Million
It’s no secret that Nokia’s been struggling to turn around its sales figures, and despite releasing some very nice Windows Phone hardware, the company just hasn’t been doing the kind of business it might like to see. Tough times can mean looking to alternate source of income, and it looks like Nokia just found a big one, announcing that it’s sold the company’s Espoo, Finland headquarters.
Nokia expects to finish closing the deal by the end of the year, but that won’t be the end of its time in Espoo. Instead, Nokia will remain in its existing offices, but now as a tenant, rather than the landlord. By selling the building, the company will manage to see a quick influx of cash to the tune of about 220 million USD.
Even that much money won’t radically change Nokia’s course, but it could give the company some breathing room while we wait to see if Windows Phone ever manages to find the acceptance both Microsoft and Nokia have been banking on.
Nokia attempts to spin this move as a positive in its press release announcing the sale, noting that it was never the company’s intention to have a bunch of real estate holdings, and that it’s always looking for a good opportunity to unload some.