Nokia signs ?500 million loan for Symbian R&D

by Darren Murph posted Feb 19th 2009 at 9:54AM

You'd think a company like Nokia could just finance whatever it wanted, but just to be safe, it's signing a loan agreement with the European Investment Bank (EIB) to the tune of €500 million ($623.9 million). Why the sudden need for cash? According to Reuters, the five-year loan will be used in part to "finance software research and development (R&D) projects Nokia is undertaking during 2009-2011 to make Symbian-based smartphones more competitive." More specifically, those R&D activities will "also benefit the work of the Symbian Foundation and its development of open-source software for mobile devices." Sadly, that's absolutely it for details, but we get the idea we'll be hearing more about this soon. We hear you can accomplish some pretty wild goals with a half billion Euros.

Filed under: Handsets, Nokia, Symbian

Tags: EIB, European Investment Bank, EuropeanInvestmentBank, finland, loan, nokia, open source, OpenSource, rD, research, software, symbian, symbian foundation, SymbianFoundation

Subscribe to these comments

Reader Comments (Page 1 of 1)

Neutral

Jogue @ Feb 19th 2009 4:00PM

I would kill for that phone lol. anyone know if its an actual concept or anything?

Neutral

Kwikit @ Feb 19th 2009 8:28PM

That is a beautiful device, even if I have no need for a simple phone... I need a smartphone.

Found it. They're taking that Green thing a bit literally, No? Nokia Aeon

http://images.google.com/images?hl=en&q=nokia+green+phone&gbv=2

http://www.techshout.com/gadgets/2006/10/new-nokia-aeon-concept-phone-with-touchscreen/

Some nice designs... I wish they'd stop making sme of their current offerings and make some of these into real products... stunning.

Neutral