Nokia one of the biggest mobile phone manufacturer is downsizing its operations to conserve cash and is looking to sell its global headquarters in Espoo, Finland for a price $387 million. A Nokia spokesman had confirmed this and may lease back the same building.

[box_dark]“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.

“Divesting real estate is an entirely different thing compared to the location of the headquarters. As we have said many times before, we have no plans to move our headquarters.”[/box_dark]

Nokia has planed to cut a whooping $2 billion as part of downsizing its operation and loses in the mobile market by 2013. This includes the HQ, 10,000 jobs, some factories, and assets like Qt development platform operations. Nokia said it had sold 4 million Lumia Windows Phone devices, with feature phones still its biggest growth segment.

Source: TechCrunch