Psion Releases Symbian Numbers

The total number of devices shipped with Symbian in the three months to 30 June 2005 was 7.77 million, with total shipment numbers for the first half of the year up to 14.52 million. This number shows a large growth in the smartphone market, when compared with the 5 million devices shipped with Symbian OS in the first half of 2004.

These numbers are important because payments of Psion's sale of its 31.1% stake in wireless OS business Symbian is directly related to the number of devices sold. Psion received an initial cash payment of £93.5m on 12 July 2004.

Shipments of Symbian OS-based phones in the twelve months to 31 December 2004 were 14.4 million. In March 2005, Psion received the first deferred payment of £12.1m relating to the sale. This was equal to the total number of devices containing the Symbian operating system sold by licensees in 2004 multiplied by 84.0 pence per unit.

A second and final deferred payment, equal to the total number of devices containing the Symbian software sold by licensees in 2005 multiplied by 84.0 pence per unit, will be received in March 2006.

The Board estimates that this payment will be approximately £20.7m, giving a total consideration for the disposal of Symbian of £126.3m before costs.