Nokia to buy Symbian
Nokia Corp announced on Tuesday that it would buy out other shareholders of handset software company Symbian. The Finnish mobile giant said it would allow the software to be used without users having to pay royalties.
Porsche to buy controlling stake of VolkswagenNokia already owns around 48 per cent of Symbian shares and will be spending around 264 million euros to purchase the remaining shares. The company said that Sony Ericsson, Ericsson, Panasonic and Siemens have already agreed the offer, whilst Samsung Electronics is expected to approve the deal as well.
Nokia said that it had formed Symbian Foundation in conjunction with AT&T, NTT, CoCoMo, Vodafone, Texas Instruments and STMicroelectronics.
Olli-Pekka Kallasvuo, Chief Executive of Nokia, said, "This will drive the development of new and compelling, web-enabled applications to delight a new generation of consumers," reports Reuters.
Symbian currently has around two thirds of the smartphone software market.
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