Nokia Confirms It?s Looking At HQ Sale, May Lease It Back, No Plans To Leave Finland

As beleaguered handset maker Nokia continues to downsize its operations to conserve cash, the handset maker is looking to sell its global headquarters in Espoo, Finland for a price of up to $387 million (?300 million). The news was first reported by the Finnish-language Helsingen Sanomat, with the real-estate price estimate coming from?Ilta-Sanomat. A Nokia spokesperson has confirmed to TechCrunch that it is evaluating this option, but that it may end up leasing back the same building, and in any case has no plans to leave Finland in the process. "As we said during Q2 results, Nokia is re-evaluating all non-core operations, including its real estate. However, we do not have any plans to move our headquarters," a spokesperson said in an email (emphasis Nokia's). "As with most companies whose core business is not in owning real estate, it makes common business sense not to tie assets in real estate property but rather invest and focus in its core operations.

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