News Roundup: Psion's trouble-filled week

Losses, job cuts and a major product cancellation adds up to a whole lot of bad news

Handheld PC maker Psion will be keen to put the last week behind it. On Thursday it reported a pre-tax loss of £1.4m for 2000, compared to profits of $4.6m in 1999. The company also announced that it was dropping plans to manufacture a smartphone, after Motorola pulled out of the project -- codenamed Odin. Job losses will follow. The news drove Psion's shares price down to a new low, and other high-tech companies also suffered from stock market fears about the telecoms sector. Symbian, the consortium led by Psion, Nokia, Motorola and Ericsson, insisted that smartphones are still on track to appear this year, despite a warning from Psion of "industry-wide delays in volume product rollout". NEWS:
Microsoft profits from death of Odin
Fri, 02 Mar Demise of Psion wireless handheld device means fewer competitors for Microsoft's wireless Pocket PC Freeserve, Psion hit as market slides
Thu, 01 Mar UK tech stocks hit new lows Psion shares hit new low
Thu, 01 Mar Demise of Symbian-based Odin wireless handheld shaves nearly a quarter off company's value Symbian says smartphones on track
Thu, 01 Mar Consortium says hardware should appear on schedule, despite Psion warning Psion drops new product, cuts jobs
Thu, 01 Mar Shares drop as UK handheld computer maker cuts smartphone, warns of delays to Symbian devices Take me to the Mobile Technology Special Have your say instantly, and see what others have said. Click on the TalkBack button and go to the ZDNet News forum. Let the editors know what you think in the Mailroom. And read what others have said.