Nokia to move Latin America headquarters to São Paulo

Thursday, February 24, 2011

The world's largest mobile phone manufacturer, Nokia (NYSE: NOK), will move its Latin American headquarters from Miami to São Paulo, Brazil, online news source Baguete quoted regional president Olivier Puech as saying.

The Finnish OEM's decision to move the Latin American head office to Brazil has nothing to do with the announcement earlier this month that it would sideline its Symbian operating system (OS) in favor of Microsoft's (Nasdaq: MSFT) Windows Phone OS, Puech said. The office move was agreed upon before the OS restructuring decision.

The move will also generate new jobs in Brazil, the executive added, although an exact number has yet to be defined.

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Nokia posted a 20% year-on year rise in net sales of its devices and services unit in Latin America in the fourth quarter 2010, to 715mn euros (US$983mn). Latin America was the fifth-largest geographic area - of Nokia's six regions - in terms of mobile device units, ahead only of North America, shipping 12.2mn devices, down 2% from 12.4mn a year previous.