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    October 4, 2012

    Nokia to sell its HQ and move in as tenant?

    If there were any doubts about how deep the trouble is that Nokia finds itself in, this should clear that right up and it seems their financial woes aren‘t going to end any time soon.  According to Reuters, the struggling cellphone maker is considering selling its principal headquarters in Espoo, Finland.

    According to a spokesman, the company is looking to divest “œnon-core parts“ of the business, “œand that includes the headquarters“. Nokia has lost billions in the last two quarters, $1.7 billion in Q1 2012 and $1.01 billion in Q2 2012, so it makes sense that Nokia will be looking for cash wherever they can find it.

    The Finnish journal Helsingin Sanomat values the Espoo property at $250-$400 million. Nokia say they want to sell the premises, but they are adamant that they would stay in its home country and would look to remain the primary tenant in the building complex.

    Even the fact that 4 million Lumia handsets were sold during Q2 was not enough to offset the massive loss. What will it take for Nokia to get out of the red and not close its doors indefinitely?

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    • Crocaduck

      They make good phones, why don’t they make an Android handset?

    • Nokia relied on old and outdated technology for way to long, the symbian platform was obsolete in comparison terms years ago. They have also failed with the Lumia windows phone which in the 800 series was a complete disaster, having no true integration ability with PC’s and not having even half of the features of a standard cell phone. I personally believe that Nokia rode its market fame for too long and sucumbed to the profit first fever that corporate culture dictates. I have only purchased Nokia phones for at least 10 years, but the Lumia 800 I bought last year is the last purchase they will be getting from me.