Nokia has sold its New York headquarters, located north of Manhattan in an industrial area outside of White Plains, New York. Purchased six years ago for $30 million, the struggling Finnish vendor sold the building to biotechnology firm Histogenetics for $12 million. “It’s a great deal for 12 million bucks,” Michael Rao, president of the realtor representing Histogenetics, told LoHud.com. “The building is gorgeous. It’s so spectacular.” Nokia’s move comes as its struggles in the global mobile market continue; the company posted a huge $1.7 billion loss in the second quarter after losing $1.2 billion in the first quarter. Excluding the White Plains office, Nokia currently has 27 U.S. office locations listed on its website in addition to its North American headquarters in Sunnyvale, California.

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Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.