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After losing Billions and having their shares rated as “junk,” Nokia has moved to start selling property assets in an effort to shore up cash flow. The move comes as rumour emerges that key partner Microsoft is considering the launch of a Surface Windows 8 smartphone.Nokia CEO Stephen Elop claims he is not concerned Microsoft is considering a Windows Phone 8 device despite the fact Company executives last month tried to con consumers into believing video supplied to journalists was shot using the camera in the new Windows 8 smartphone when in fact it was shot by a professional camera crew.
“We apologise for the confusion we created,” Nokia said after being caught out.
But Valerie Buckingham, U.S. head of marketing, said the company should be judged less by that mistake and more by how it reacted.
It’s now been revealed that faked demo videos are part of the smartphone business, often shot to sell a product before the product itself exists and usually carrying a “simulated” disclaimer. Nokia’s first mistake was not including that disclaimer. Its second mistake was thinking a simulated video was a good idea for the web in the first place.
While Mos. Buckingham wouldn’t comment on the thought process around the Lumia 920 video, she said the company realizes its brand is constantly dissected by users, enthusiasts and journalists.
During an interview with GigaOM, the Nokia CEO noted that Nokia’s bet on the Windows Phone platform had netted the phone maker some permission particular to Nokia. Those permissions, as well as Nokia’s years of research into smartphone technologies, give Elop confidence that, should Microsoft roll out its own smartphone, Nokia’s position in the WP8 segment will be largely unaffected.
It’s also been revealed that Nokia is looking to sell its headquarters. According to Reuters, the phone manufacturer wants to “dispose of non-core assets,” which includes the Nokia House headquarters in Espoo, Finland. A spokeswoman said the company is “evaluating different options for non-core parts, such as real estate holdings, and that includes the headquarters.”
Nokia House is a large building with a seaside location, made of a combination of glass and steel. It’s estimated to be worth 200 to 300 million euros ($259-388 million), and would certainly go some way towards its current financial issues. Although the company could end up selling the property, it has expressed an interest in doing so if it could lease the building back.
