# Nokia sells its Espoo, Finland HQ for $222 million, will stay on as tenant



## pratyush997 (Dec 4, 2012)

As promised, Nokia has sold its Espoo, Finland headquarters to another Finnish company, Exilion, and signed a long-term lease to stay on as principal tenant. The handset maker reported that the property, dubbed Nokia House, went for 170 million euros ($222 million) and that the sale of the 48,000 square meter (517,000 square feet) property would be completed by the end of the year. Nokia reportedly made the deal to help stem the flow from its recent poor financial performance, but will at least get to stay on in the building it's occupied since 1997. Check the PR after the break for more info.



> Nokia to sell and lease back head office building
> 
> Espoo, Finland - Nokia has agreed to sell and lease back its head office building in Espoo, Finland on a long-term lease to Finland-based Exilion. We expect to complete the sale by the end of 2012. The selling price is EUR 170 million.
> 
> ...


___________________________________________________
What the hell is Nokia Doing?

*www.blogcdn.com/www.engadget.com/media/2012/10/nokia-sell-hq-10-03-12-01.jpg


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## Abhishek Nama (Dec 5, 2012)

Look at it from a financial point of view. I think they made a good decision here. Quite clever as well. They got the money and they can still continue working there on a long lease- and it's not expensive.


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## gameranand (Dec 12, 2012)

Whatever gets the money right.


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## Hrishi (Dec 12, 2012)

THis will buy them few more minutes in the market , hopefully. I hope they utilize it well.


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## Kirtu Jindal (Dec 13, 2012)

^^
Have to agree - this a temporary relief a best - selling of capital asset will never make up for revenue losses. They need more innovations like the Lumia - maybe then, in a few years, they can stem the rot.


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## Flash (Dec 13, 2012)

It should be a hard time for Nokia.
Let some miracle happen, with them!


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## navpreetsingh459 (Dec 13, 2012)

I think it's all over for Nokia now..They are going through a tough time and they have to figure out something fast enough.


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## Flash (Dec 13, 2012)

Either they're concentrating more either on "High-end" or on "Low-end".
The major market lies in the MIDDLE.


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## RCuber (Dec 13, 2012)

why not relocate to India


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## Flash (Dec 13, 2012)

RCuber said:


> why not relocate to India


We already have NOKAI here. That will ruin their reputation.


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## pratyush997 (Dec 13, 2012)

Gearbox said:


> It should be a hard time for Nokia.
> Let some miracle happen, with them!


Kick WP and getting in Droid can save 'em!


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## Flash (Dec 13, 2012)

But, we should give a chance for WP too.
With iOS & Android, people will eventually get bored/

It will be like BJP & Congress in a nation!


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## RCuber (Dec 13, 2012)

^^ +1.. actually i'm pi$$ed with Android's fragmentation.


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## pratyush997 (Dec 13, 2012)

BTW IMO sailfish can be good!


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## sukesh1090 (Dec 17, 2012)

the only person who can save them in this world is android because i don't think they are as clever as apple to file lame patents to make money.


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