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Nokia Selling Its Headquarters To Raise Funds 186

PolygamousRanchKid writes with news the Nokia is looking to generate some cash by selling its headquarters and leasing it back from the new owner. The sale price for the 48,000 sq. meter building is €170 million. "The struggling mobile phone company has operated in the glass and steel building in Espoo near Helsinki, known as Nokia House, since 1997. The sale is another step towards reducing costs and concentrating on its core business. Nokia has spent almost a third of its cash reserves in 12 months, and in October had about €3.6bn left in the bank to turn itself into a smartphone manufacturer capable of competing with Apple and Samsung."

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