More cash pumped into Symbian

Millions vanish into smart phone cash chasm
Written by Ben King, Contributor

Millions vanish into smart phone cash chasm

Symbian has received a £20.75m dose of cash from its original investors as the flow of revenue from sales has been slow to materialise. The original investors in the smartphone operating system - Matsushita, Motorola, Nokia and Psion - are all expanding their shareholdings on a pro-rata basis. Ericsson, another original investor, will retain its stake in Symbian, but its ration of new shares will go to its new mobile joint venture, Sony Ericsson. The original ambition of the Symbian project has been substantially scaled back, and few devices have appeared on the market, leaving Symbian short of revenue from sales of its software. It was first conceived as a platform for a range of devices including PDAs, but it is now focused on building a platform for smartphones. It faces a mighty battle with Microsoft, which is launching a smartphone platform later this year, based on alliances with a number of up-and-coming vendors lead by Samsung.
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