No plans to move headquarters, confirms Nokia

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03 Oct 2012 , 22:35

Telecom giant Nokia today said it has no plans to move its headquarters in Finland while it will continue with its efforts to dispose off non-core assets, including real estate.

“As we said during Q2 results, we continue to look at opportunities to sell non-core assets, including real estate properties. It is a common measure by many companies whose core business is not real estate to sell and lease back key properties. To be very clear, we have no plans to move our headquarters,” a Nokia spokesperson said in a statement.

Reuters

The Finnish company has been witnessing tough competition from rivals Samsung and Apple Inc in the smartphone category and it lost its leadership position Samsung.

As part of the restructuring process, Nokia had earlier announced closure of its facilities in Ulm (Germany) and Burnaby (Canada) while it sold its luxury brand Vertu to a private equity firm. It had also announced slashing of up to 10,000 jobs globally by the end of 2013.

Nokia ended the second quarter with gross cash of 9.4 billion euros and a net cash position of 4.2 billion euros.

PTI


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