Nokia’s financial struggles lead to sale of Espoo headquarters

Despite the great news that the Lumia 920 seems to be received well all over the world, Nokia is still not out of the woods yet. The Finnish company has already sold its New York offices in White Plains, New York and now the iconic “Nokia House” will join the list of sold properties. The Espoo property was sold for $222 million to Exilion, who is currently leasing the property to Nokia for an undisclosed amount.

Despite these apparent setbacks, Nokia CFO Timo Ihamuotila doesn’t seem to be too concerned. He stated, “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.”

What do you think? Is Nokia streamlining their business or off-loading assets for the long-haul?

[via BGR]




  • Clearly they are freeing up some $$$ to stay above water, but they are also heading in the right direction and will continue to gain ground long term.