Printed from http://www.electronista.com

Nokia considers sale of Finland headquarters for $260M

updated 11:28 am EDT, Wed October 3, 2012

Would seek to rent building back if sold

Nokia is looking to sell its headquarters. According to Reuters, the phone manufacturer wants to "dispose of non-core assets," which includes the Nokia House headquarters in Espoo, Finland. A spokeswoman said the company is "evaluating different options for non-core parts, such as real estate holdings, and that includes the headquarters."

Nokia House is a large building with a seaside location, made of a combination of glass and steel. It's estimated to be worth 200 to 300 million euros ($259-388 million), and would certainly go some way towards its current financial issues. Although the company could end up selling the property, it has expressed an interest in doing so if it could lease the building back.

Last month, Ericsson expressed an interest in purchasing the business support systems of Nokia, which could sell for around $377 million. In July, it closed its last Finnish manufacturing plant in Salo, and is still conducting its plan to cut 17,000 jobs by 2013. It has been estimated that without drastic action, Nokia will burn through its cash reserves by the end of 2013. Fitch Ratings has already downgraded shares in the company to "junk" status, believing it unable to reverse the financial decline.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Hash

    Mac Elite

    Joined: 04-21-01

    Elop decided to sell the company to MS.
    New Nokia HQ will be in Seattle.
    In one tiny campus near Redmond.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News