Nokia may sell Finland HQ: Report
Nokia might sell its headquarters in Espoo, Finland as part of its effort to dispose of non-core assets, according to reports.
A company spokesperson was quoted in the report as saying that the firm is evaluating various options for non-core parts, such as real estate holdings, and that includes the headquarters. Other reports suggest that Nokia plans to lease back its HQ after selling it.
In June, Nokia announced plans to cut up to 10,000 positions globally by the end of 2013, and is selling luxury phone maker Vertu in a bid to cut costs, even as it plans to boost investments in feature phones, and smartphones based on the Windows Phone operating system.
The glass and steel headquarters building by the Baltic Sea is valued at €200-300 million ($259-388 million), according to a report by Finnish newspaper Iltasanomat.
Nokia posted a net loss of €1.4 billion ($1.8 billion) in Q2 of this year, but had cash of more than €4 billion.