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Nokia secures loan to fund mobile application investment



24.02.2009

Nokia has secured a 500 million Euro loan from the European Investment Bank to fund mobile application and software research, and development projects. The handset giant hopes the loan, which must be repaid over five years, will enable it to make Symbian-based smartphones more competitive.


Nokia was also keen to stress that the loan will benefit the work of the non-profit Symbian Foundation and its development of open-source mobile software for smartphones.


The Symbian Foundation is supported by 78 industry partners, among them Atelier, Bank of America, Gemalto, HP, Imagination Technologies, Mobica, MySpace, Nanoradio, Omron Software, Qualcomm, SanDisk, SESCA, SiRF Technology and VirtualLogix.


Meanwhile, Nokia is to team up with software provider Adobe Systems to make a $10 million investment in mobile application development using Adobe's Flash Platform.


The funds to make this investment have come from the Open Screen Project, an industry-wide initiative which invites developers to submit concepts for mobile applications that are based on Adobe's Flash Platform. These applications must run on Nokia products and operate across multiple smartphones.


Applications will be judged according to their innovative and compelling user experiences, robustness and exploitation of the capabilities and features of Nokia devices, Adobe Flash and Adobe AIR.

 

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