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Mobile Software Firm UIQ Files For Bankruptcy

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Mobile software developer UIQ has filed for bankruptcy in a district court in Sweden, the company said today. The move has been expected for some time now, following the decision of the company’s co-owners Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) and Motorola (NYSE: MOT) to merge its software with the Symbian platform, following Nokia’s acquisition of the mobile operating system. In November, UIQ warned its 200-strong staff that they were facing layoffs, after SE and Motorola said they would stop using its software. The two handset makers agreed then to fund the firm for a couple of more months for the company to explore of its options. Obviously, they weren’t very good ones. “There are no opportunities to create a new line of business in the current financial climate,” UIQ Chief Executive Johan Sandberg told Reuters.

Jan 5, 2009 9:36 AM ET

Posted In: Money, Technologies / Formats, Operating Systems, Companies, Motorola, Nokia, Sony, Sony Ericsson, uiq

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