Sony Ericsson Raises Stake in Symbian
7 July 2004 by axxxr Sony Ericsson is moving to increase its influence in the Symbian wireless joint venture by raising its stake by 1.5 percentage points to 13.1 percent. The move coincides with an announcement by Ericsson that it would reduce its share. The two companies are intent on blocking Nokia from owning more than 50 percent. Combined, Sony Ericsson Mobile Communications and LM Ericsson AB will now hold a 28.7 pct stake in Symbian, up from 19 pct. Ericsson's chief executive officer Carl-Henric Svanberg said in March that Ericsson would seek to prevent rival Nokia from gaining more than a 50 pct stake in Symbian. Sony Ericsson said in addition to exercising its and LM Ericsson AB's pre-emption rights on Psion PLC's holding in Symbian, Sony Ericsson will also participate in Symbian's rights issue, which the venture has confirmed separately today. "Our investments will help reinforce Symbian's momentum and accelerate the adoption of Symbian OS in mobile phones," said Miles Flint, president of Sony Ericsson.
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