Nokia take out loan to tune of â‚¬500 million?
Nokia, one would presume they have enough cash to back any project they like, but apparently Nokia is signing a loan agreement with the European Investment Bank for a staggering â‚¬500 million which is roughly $623.9 million.
Apparently this 5 year loan is to be to “finance software research and development (R&D) projects Nokia is undertaking during 2009-2011 to make Symbian-based smartphones more competitive.”
Basically it’s to benefit the Symbian Foundation and their development of open source software for mobile phones. And let’s face it with Â½ a billion we should be seeing so decent open source software in the future shouldn’t we?
Source — Forbes