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?