Symbian Settles Share Structure
Symbian announced today the completion of the preemption process for the sales of Psion’s shares confirming that all the shareholders (except Samsung) were to exercise their rights. The real significance of today’s announcement is the clear roadmap, supported by a cash injection and an increase in headcout of 300 over the next 18 months, to drive the Symbian OS into mid-tier devices by, among other things, bringing down the bill of materials for the OS phone from today’s minimum of $132 to $78 by 2008.