Tech giant, Nokia has sold its Peltola Campus in Oulu, Finland for $40.8 Million on Tuesday in an effort to trim down on its non-tech assets and raise more cash. The buyer was identified to be a real estate company, Technopolis.
"Nokia will lease from Technopolis the same space that we currently use, 17,400 square meters, so our occupancy in Oulu is not affected by the sale and our operations will also continue there as today." a spokesperson told Tech Crunch.
The company has been facing a tough time with competitors taking away the lion's share of market which once belonged to the firm. In order to get back in business and focus on its core values, the company is trimming away its real estate.
In December 2012, Nokia sold its headquarters in Espoo, Finland for around $222 million and leased it back. Earlier, in May 2012, the company had sold its headquarters in New York for around $12 million.
However, Nokia has waved away all speculations revolving around its unstable finances. The company claimed selling off non-core assets was just "business sense" and it was just normal to be leasing back the properties, reports Slashgear.
Lately, Nokia's windows phone, the Lumia series, has garnered a mixed response from consumers. In January, shares of Nokia rose considerably on sales of the phone. The company sold around 4.4 million Lumia handsets in the fourth quarter of 2012.
Recently, the company also won a $1.35 billion grant to develop the world's strongest material - Graphene, which around 300 times stronger than steel.
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