Nokia take out loan to tune of €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 €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 ½ a billion we should be seeing so decent open source software in the future shouldn’t we?

Source — Forbes


One thought on “Nokia take out loan to tune of €500 million?”

  1. I think they did that because it’s not a “Nokia” research but yes a Symbian “Foundation” research plans, so they are not Alone, there are other companies which make part of it too, so why would they spend their own money for all of them?

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