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Nokia (NOK) is thinking of selling its giant Espoo, Finland HQ as part of its cash-raising...

Nokia (NOK) is thinking of selling its giant Espoo, Finland HQ as part of its cash-raising efforts. A Finnish paper values the facility at €200M-€300M ($259M-$388M). Its debt downgraded to junk by major ratings agencies, Nokia has also been exploring ways to monetize its patent portfolio.
Comments (15)
  • Robert M. Donnelly
    , contributor
    Comments (19) | Send Message
     
    Nokia is done! This last hurrah will be known as "Elop's Flop".
    3 Oct 2012, 09:38 AM Reply Like
  • mr wonder
    , contributor
    Comments (546) | Send Message
     
    I am sorry, but I cant see any logic or reason in your comments (as well as the one you made below). It is very common for companies to lease real estate and focus only on their core businesses. Btw, this is also an easy way for Nokia to free up a significant sum of money.

     

    Looking at Nokia I see a company who is going full speed ahead being the best in their core businesses and finally create investors value.

     

    So whats op with Elop's Flop??
    3 Oct 2012, 02:46 PM Reply Like
  • NIKKG
    , contributor
    Comments (114) | Send Message
     
    This is a guaranteed move for a Microsoft buyout.
    3 Oct 2012, 09:38 AM Reply Like
  • Abrane
    , contributor
    Comments (58) | Send Message
     
    I don't know... Nokia seems insistant in stating it will remain a Finnish company
    3 Oct 2012, 09:43 AM Reply Like
  • david5198
    , contributor
    Comments (11) | Send Message
     
    News said Nokia plan to sell the building and then lease from the new owner to raise money.
    3 Oct 2012, 09:57 AM Reply Like
  • Abrane
    , contributor
    Comments (58) | Send Message
     
    News stated they "may" lease from the new owners. Everything is still speculation.
    3 Oct 2012, 10:12 AM Reply Like
  • Robert M. Donnelly
    , contributor
    Comments (19) | Send Message
     
    I am a marketing expert, educator, author, and prolific writer on a variety of business issues. I concentrate mostly on entrepreneurship and innovation. I have developed a concept I call the "slipping point", or the other side of Malcolm Gladwell's well know "tipping point". The slipping point is when my 5 key indicators kick in for any well known company like Nokia. It was obvious before Elop took over that Nokia had fallen behind the technology curve, and its situation only worsened when Elop (a professional manager) took over. From a corporate culture point of view Elop could not have been a worse selection. He is a Canadian, managing a Finnish company culture, competing against American entrepreneurs - how could it work? Elop certainly isn't a charismatic leader, either. In addition, Elop hooked up with his buddies at Microsoft, another aging firm, and entered into another ill fated partnership with a questionable new operating system. It's only a matter of time for Elop, and shortly thereafter - Nokia.
    3 Oct 2012, 09:58 AM Reply Like
  • a_rob
    , contributor
    Comments (133) | Send Message
     
    "It was obvious before Elop took over that Nokia had fallen behind the technology curve"

     

    Yup...and now they have a device that's arugably at the very front of the technology curves - and especially makes Apple's latest offering looking like an expensive paper weight. Nokia missed the curve but they're now showing themselves leading it again -they understand and are visibiltiy and successfully addressing the company's positioning - hardware and services. Hardware is top notch, services have always been top notch but suffered under the 'Ovi' brand, but as clearly shown by the iOS maps fiasco Nokia's location based services really do trounce the competition.

     

    All comments seem to be too focused on Nokia's past, with a refusal to acknowledge it's somewhat remoulded future.
    9 Oct 2012, 08:13 AM Reply Like
  • Leont68
    , contributor
    Comments (1365) | Send Message
     
    your also a newly signed up user with 2 post that sounds a lot like some other Nokia haters.

     

    im just saying.
    3 Oct 2012, 10:05 AM Reply Like
  • Abu Bakr Hussain
    , contributor
    Comments (597) | Send Message
     
    One of the cheapest ways for a company with junk-rated debt to raise funds. It may go off towards paying any corporate bonds due next, or towards maintaining Nokia's cash position into next year.
    Fact is, in 5 years time, Nokia will either have recovered to some level of stability, or it will have broken up. Nokia needs this money now, in five years time, if it's a going concern, it can buy the lease back, or do what it wishes.
    3 Oct 2012, 10:16 AM Reply Like
  • yblarrr
    , contributor
    Comments (928) | Send Message
     
    Since most of us will be working in the "clouds" in not too distant
    future, who needs a corporate headquarters.
    3 Oct 2012, 10:27 AM Reply Like
  • dhdhoora
    , contributor
    Comments (438) | Send Message
     
    People... Take a deep breath and relax. I suspect that this is probably a 'sale/leaseback' transaction. The company will convert the HQ asset into cash in exchange for an additional expense. Not a bad move for a company restructuring its assets to get through a rough patch. This just shows me that the company is determined to get through this thing -- I do not view it as a desperation move.

     

    All the very best,
    Don
    3 Oct 2012, 10:38 AM Reply Like
  • mitrado
    , contributor
    Comments (2005) | Send Message
     
    I wonder why all these gloom and doom articles & comments about Nokia never refer to the NSN and NavTeq divisions?
    3 Oct 2012, 11:08 AM Reply Like
  • Papa of Four
    , contributor
    Comments (613) | Send Message
     
    Hmmm, I am also not too concerned
    dhdhoora's comments are correct. However, were they to move somewhere else close by (Estonia, Latvia Lithuania where all the Fin's buy their booze after short helicopter rides from Helsinki) the could see some REAL cost savings.
    3 Oct 2012, 11:57 AM Reply Like
  • Mikko Laaksonen
    , contributor
    Comments (22) | Send Message
     
    Nokia also merged Nokia Asset Management holding company (real estate)... It sure seems like a huge cleanup is going on. wHether it is about focusing on core business -- or getting ready to sell the business... Well, that is speculative.

     

    If it is about getting ready to sell the business and all of the 'Elop Effect' was planned to bring down share price, then this operation has been kinda genius, ruthless and dirty all at the same time.

     

    I am not thinking way or the other, btw. I hope that Nokia will make a successful comeback for sure.

     

    (I am an ex-shareholder of NOK)
    5 Oct 2012, 03:41 AM Reply Like
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