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Nokia Mulling Patent Sale, But Only for Right Price

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Jun 15, 2012, 7:25 AM by Eric M. Zeman

Nokia Chief Financial Officer Timo Ihamuotila said that the company would divest portions of its patent portfolio if it had to in order to raise cash. "We will sell patents at the right price," he told MarketWatch. Nokia is under enormous financial pressure as it struggles to turn its smartphone business around. The company this week announce massive layoffs, an internal reorganization, executive change-ups, and new divestitures and acquisitions. Nokia's patent portfolio is considerable in size, which means the company could potentially raise a significant amount of cash to fund further operations. Ihamuotila did not indicate that any such deals were yet on the table.

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