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Nokia Sells One of its Offices in Finland

Nokia

Nokia’s dismal showing in the mobile industry isn’t news to us. The Finnish company has been struggling to make a comeback to the scene, but without much success. Its ambitions with Windows Phone might have helped somewhat, but not to the extent of actually bringing in large amounts of profits. Microsoft too is suffering as its mobile platform has struggled to make an impact on the market dominated by Android and iOS. But Nokia is in a much worse condition compared to Microsoft, and the Finns have been selling most of their units and buildings all over the world, to make some quick bucks. And one more Nokia building has joined the list now, from Nokia’s home turf Finland. The company told the Finnish Stock Exchange that the company has sold its campus in Peltola to a firm called Technopolis for a reported 30.5 million Euros which is close to $40.8 million. Similar to all its recently sold offices, Nokia will rent out a part of the premises for a while.

The company’s future will be closely assessed by the team as well as share holders. Nokia isn’t exactly booming in the stock market either, with price drops occurring almost frequently. This makes us believe whether the company would last in the long run. But considering the kind of ups and downs that manufacturers see, we’re not quite sure what the future holds for the Finns. The fact that the company has put all its eggs in the Windows Phone basket speaks volumes of the company’s desperation to succeed. Nokia is easily one of the most popular and profitable Windows Phone OEMs out there. However, that just doesn’t cut it when the real competition is with Android OEMs and iPhones. Many have already called for the head of Stephen Elop and with good reason. Regardless of that, one must agree that it’s his supervision that has got the company this far in the last two years or so. Imagine what would happen to Nokia had it not taken the Windows Phone route. However, we would have liked to see an Android powered Nokia smartphone and I’m fairly certain it would sell well too.

Selling its assets is quite essential as the company has to show the figures in green at the end of each year. We hope there are better times ahead for the Finns, because we all know they make really good phones. Here’s the statement from the Vice President of Nokia, Juha Olkinuora – “As we have said, we are focusing on our core business and evaluating the sale of non-core assets like real estate. Nokia and Technopolis have collaborated in Oulu for more than 20 years, so they are a natural partner for us. We will continue our operations at the campus as before.”

Source: Global News Wire
Via: Phone Arena