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Secure Transactions News

Symbian receives EUR 22 million investment

Thursday 11 November 2010

The foundation will use the funding for development of future versions of the Symbian operating system with a new consortium that Symbian will be part of with 23 other parties from 8 different EU countries. The consortium will go by the name of Symbeose and its aim will be to make Symbian more interesting to Symbian’s stakeholders.

Early hit by a major defection of Sony Ericsson and Samsung this month (cf. Smart Insights Weekly #10-40), the Symbian Foundation has asked its new executive director to close operations because it has insufficient funding to continue. Last week, the Foundation had announced the resignation of executive director Lee Williams for "personal reasons" and his replacement by CFO Tim Holbrow. Holbrow has seemingly been appointed to wind down operations and that Foundation employees are being offered redundancy packages.

Several weeks ago, according to Le Figaro, Stephane Richard, CEO of France Telecom-Orange, has invited the heads of Deutsche Telekom, Telefonica and Vodafone to discuss the possible creation of a common platform for mobile devices on 8 October in Paris (cf. Smart Insights Weekly #10-40).