Microsoft Corporation (NASDAQ:MSFT) will soon occupy Nokia’s headquarters in Espoo. A Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) representative confirmed the news to Bloomberg on Thursday. The last remaining operations for Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) including infrastructure, licensing, and mapping are set to move out of the headquarters.
Nokia’s remaining employees will move to another campus in Finland.
Microsoft taking over Nokia headquarters
The Espoo headquarters were built in the 1990s when Nokia was in its prime. It will be interesting to see what Microsoft Corporation (NASDAQ:MSFT) does with Nokia and their technology.
Bloomberg’s Adam Ewing and Kasper Viita explained in a recent post, “Shareholders meeting in Helsinki yesterday approved the disposal of the business that makes Lumia smartphones and Asha feature phones to the software giant, Nokia officials announced at the event. More than 99 percent voted in favor of the deal. The sale lets Espoo, Finland-based Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) concentrate on its network-equipment unit while freeing it from a shrinking business that struggled to gain ground against Apple Inc. and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) The deal is the largest strategic change for Nokia since it stopped making rubber boots and tires and left businesses such as paper more than two decades ago.”
Lumia struggling in mobile market
Lumia has been struggling in the cutthroat market of mobile phones. Although sales for the Nokia Lumia rose steadily with 8.8 million sales for the last quarter, Lumia still isn’t keeping up with top competitors.
Things could start to look up for both Microsoft Corporation (NASDAQ:MSFT) and Nokia. Just last month, Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) launched their first tablet computer and two six-inch smartphones, all poised to take on the competition.
Shareholder and Finnish doctor Kari Nieminen added, “I consider the sale as positive. Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) is able to rid itself of the more unstable business and focus on growing the stable ones.”