Nokia sells Espoo HQ for $222 million, company will remain at location

Nokia has appear that a sale of its Espoo, Finland HQ has gone through, which will see the manufacturer pocket €170 meg ($222 million). The Finnish handset maker, which is focusing on Windows Phone development, will remain equally tenant at the location, every bit we previously speculated when reports began to surface before this year.

The cost-saving movement is an expected stride for struggling Nokia to accept, especially when taking into account the financial situation the visitor is currently in. While Nokia has taken measures to cap expenditure, including the closure of factories, at least employees will remain at the base of operations, which has been utilised since 1997. Timo Ihamuotila, CFO at Nokia, had the following to add to the announcement:

"We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this effect. As we have said earlier, owning real estate is not part of Nokia'south core business and when practiced opportunities arise nosotros are willing to leave these types of non-cadre assets. We are naturally continuing to operate in our head office edifice on a long-term ground."

The Lumia 920 is believed to have sold well since it launched, and is bachelor in numerous markets (though express stock warnings are continuing to be published past retailers and carriers). Until the next financial report is released we can simply comport on speculating how the visitor is performing, as well equally its highly rated flagship Windows Phone.

Information technology'due south a good sign Nokia is taking measures to remain in business. Windows Telephone desperately requires the marketing power Nokia invests into its products, just as much as the visitor requires advances fabricated to Microsoft's mobile platform, now that information technology has thrown all eggs into a single basket. If the positive reception displayed past both consumers and companies is anything to go by, nosotros could well exist seeing a stronger Nokia in 2022.

Source: Engadget

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