Nokia looks to sell headquarters, but don't expect it to move

The company reportedly told Reuters that it's evaluating all options, including offloading its headquarters in Finland. But in a statement to CNET, it says it has no plans to move.

Nokia's headquarters in Espoo, Finland.
Nokia's headquarters in Espoo, Finland. Nokia

Nokia may be trying to sell its headquarters.

In an interview with Reuters published today, a spokeswoman for the embattled mobile company said that Nokia is "evaluating different options for non-core parts, such as real estate holdings, and that includes the headquarters."

In a follow-up statement to CNET, Nokia spokesman Brett Young confirmed that Nokia is considering selling real estate, including its headquarters. However, he made clear that it doesn't "have any plans to move our headquarters." Instead, Nokia hopes to lease back the space from the new owner.

Nokia's troubles have been well documented. The company lost a whopping $1.7 billion during the second quarter on plummeting device sales. In an attempt to regain its footing, Nokia has announced plans for job cuts, as well as measures to raise cash. One of those is the sale of its real estate.

Nokia's Espoo headquarters could be a financial boon for the company. According to Reuters, the building, which sits by the Baltic Sea, is worth as much as 300 million euros ($388 million) -- a not-so-insignificant sum for a company looking to stabilize.

As of this writing, Nokia is not close to selling its headquarters. It's also unclear whether any potential buyers have come forward. At this point, the company is solely exploring its options.

About the author

Don Reisinger is a technology columnist who has covered everything from HDTVs to computers to Flowbee Haircut Systems. Besides his work with CNET, Don's work has been featured in a variety of other publications including PC World and a host of Ziff-Davis publications.


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