Nokia Re-Affirmed Its Commitment With Symbian
Faced to the upcoming worldwide invasion of the Apple iPhone 2.0, Nokia, the current number #1 world market share holder of mobile phone must feel the heat to hold on to its world dominance by reaffirming its commitment with Symbian, the OS maker that powers all Nokia handsets.
The creation of Symbian foundation that Nokia initiates is to ensure the developers its long term plan.
With these actions, the rumor that Nokia will eventually venture in to Windows Mobile platform is getting much slimmer unless they still want to pursue the dual strategy similar to Palm.
Nokia today announced it has presented a cash offer to acquire all the remaining shares of Symbian Limited that Nokia does not already own, at a price of EUR 3.647 per share. The net cash outlay from Nokia to purchase the approximately 52% of Symbian Limited shares it does not already own will be approximately EUR 264 million.
91% of the subjected shared are currently owned by Sony Ericsson Mobile , Panasonic, Siemens and Samsung. These major shareholders have no objection about this acquisition.
The acquisition is a fundamental step in the establishment of the Symbian Foundation, announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone. More information about the planned foundation can be found at www.symbianfoundation.org.
"This is a significant milestone in our software strategy" said Olli-Pekka Kallasvuo, CEO of Nokia. "Symbian is already the leading open platform for mobile devices. Through this acquisition and the establishment of the Symbian Foundation, it will undisputedly be the most attractive platform for mobile innovation. This will drive the development of new and compelling, web-enabled applications to delight a new generation of consumers."
[Source Nokia Press release]
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