Shipment of Symbian smartphones reach 8.69 million in 2004
Posted on 12-Nov-2004 00:33
| Filed under: News
Psion announced today that shipments of Symbian OS-based phones in the nine months to 30 September 2004 grew to 8.69 million, when compared to 3.91 million for the same periond in 2003.
Psion's sale of its 31.1% stake in wireless OS business Symbian was announced on 9 February 2004. The transaction become unconditional on 10 June 2004 and Psion received the initial cash consideration of �93.5m on 12 July 2004. The company says subsequent payments in March 2005 and March 2006 will be equal to the total number of devices containing the Symbian operating system sold by licensees in 2004 and 2005 respectively multiplied by 84.0 pence per unit.
Psion expects to announce its preliminary results in March 2005, once Symbian sales for the full year are confirmed. Based on revised analyst mean consensus estimates of 14.5 million unit sales in 2004 and 24.7 million in 2005, these two payments would amount to �32.9m, resulting in total estimated proceeds to Psion from these three payments of �126.4m million or 30.3p per Psion share.