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Symbian Secures Additional Funding
Nokia Announces Completion of Symbian Funding Round
Nokia Notes the Announcement Made Today by Symbian Ltd. Regarding Completion of Its Anticipated Funding Round
LONDON--(BUSINESS WIRE)--Jan. 29, 2002-- The Symbian press release is reproduced in full below:
Symbian Ltd., (``Symbian'') today announces a further funding round from its shareholders. Matsushita, Motorola, Nokia and Psion have committed further funding pro rata to their existing shareholdings.
Sony Ericsson has taken up Ericsson's pro rata subscription rights, becoming a new shareholder. Symbian is to receive a total of 20.75m Pounds Sterling additional funding to take the company through the next phase of its development. As at 31st December 2001, Symbian Ltd had net cash of 16.9 million Pounds Sterling.
Katsumi Ihara, President, Sony Ericsson, said: ``The Sony Ericsson joint venture has a clear goal of becoming the leader in mobile multimedia products, which is the product category where an open operating system is essential. We see Symbian OS as a key enabler for our GPRS and 3G smartphones as well as being important for a large and committed 3rd party application developer community.''
This latest development builds on the growing industry acceptance of Symbian OS as the standard operating system for 2.5G and 3G mobile phones. Symbian recently announced Fujitsu as a licensee of Symbian OS, joining existing licensees Ericsson, Matsushita (Panasonic), Motorola, Nokia, Psion, Kenwood, Sanyo, Siemens, and Sony. With devices already shipping from Nokia, Ericsson and Psion, 2002 will see the introduction of the first 2.5G Symbian OS phone - the Nokia 7650 - in the second quarter, 2002.
David Potter, Chairman of Symbian, said: ``Symbian delivered its 2.5G operating system, Symbian OS v6.1, to licensees in April 2001 - we are now seeing the first of the phones based on this version of Symbian OS being launched in the market. Symbian's development to support next generation wireless standards on Symbian OS is progressing according to schedule. We are seeing a solid commitment by leading mobile phone and technology companies to Symbian OS.''
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