The embattled Finnish mobile company, Nokia is looking for more cost effective business methods, leading to its latest plan to sell off Nokia House, its headquarters in suburban Helsinki that was built in the 1990’s. The move would free-up working capital for the company, though it would then have to pay rent to the building’s future owner.
Nokia was once the clear leader of the mobile phone market, but has been caught flat-footed by the arrival of smartphones and social media, with Apple and Android-based units now gaining most in market share. Nokia’s alliance with Microsoft has failed, at least for now, to reverse the company’s fortunes, having ended 2011 with a loss of €1.4bn.
