Nokia needed some extra cash. So, Nokia sold its headquarters on the Baltic Sea, in Espoo, Finland. But on the contrary, Nokia isn’t moving out of the massive building, instead, they’ve entered into a long-term lease with the new owner, Finland-based Exilion, which ponied up $220 million for the sleek set of corporate offices. As Nokia puts it:
“We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokia’s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis.”
OK, then. But a mere $220 million cannot save Nokia from its Lumia line not selling, can it? We think it cannot.