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Ericsson to raise Symbian stake to stop Nokia
Posted: 22-Mar-2004 [Source: Reuters]

[Ericsson spokesperson confirms report Ericsson intends to raise its stake in Symbian in efforts to preserve Symbian independece.]

By Jan Strupczewski, Stockholm -- "Swedish telecoms equipment maker Ericsson (Stockholm:ERICb.ST - News) plans to stop rival Nokia gaining control of mobile phone software maker Symbian by raising its own stake in the company, Ericsson said on Monday.

Analysts said that Nokia's lack of majority in Symbian could slow down the development of its software relative to Microsoft's efforts but that the independence of Symbian was more important.

"At this time we think Symbian's independence is more important than speed of (operating system) development as key decisions regarding long-term commitment to terminal operating systems are still ongoing," said Nomura analyst Richard Windsor.day."

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