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Struggling Nokia might sell headquarters: Report

Published on Oct 3, 2012 5:00 PM
 

HELSINKI (AFP) - Struggling Finnish mobile phone manufacturer Nokia might sell its headquarters on the outskirts of Helsinki, a senior company official was quoted as saying on Wednesday.

"We are exploring different options for our property assets. This includes a possible sale of our headquarters," Nokia's financial director Timo Ihamuotila told the Finnish daily Helsingin Sanomat. "However we have no plans to move our head office," he added.

Nokia, once the leader in mobile phones, has been losing market share as consumers move to smartphones powered by Apple's iOS or Google's Android operating system. It has tied its future to using Microsoft's Windows Phone smartphone operating system, but has yet to produce a major hit with consumers.

The company, in the midst of a major restructuring plan, posted a net loss of 1.4 billion euros (S$2.2 billion) in the second quarter of this year, but had a cash pile of more than 4.0 billion euros.

 
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