News Roundup: Psion's trouble-filled week
Published: 02 Mar 2001 15:05 GMT
Handheld PC maker Psion will be keen to put the last week behind it.
On Thursday it reported a pre-tax loss of £1.4m for 2000, compared to profits of $4.6m in 1999. The company also announced that it was dropping plans to manufacture a smartphone, after Motorola pulled out of the project -- codenamed Odin. Job losses will follow.
The news drove Psion's shares price down to a new low, and other high-tech companies also suffered from stock market fears about the telecoms sector.
Symbian, the consortium led by Psion, Nokia, Motorola and Ericsson, insisted that smartphones are still on track to appear this year, despite a warning from Psion of "industry-wide delays in volume product rollout".
NEWS:
Microsoft profits from death of Odin
Fri, 02 Mar Demise of Psion wireless handheld device means fewer competitors for Microsoft's wireless Pocket PC
Freeserve, Psion hit as market slides
Thu, 01 Mar UK tech stocks hit new lows
Psion shares hit new low
Thu, 01 Mar Demise of Symbian-based Odin wireless handheld shaves nearly a quarter off company's value
Symbian says smartphones on track
Thu, 01 Mar Consortium says hardware should appear on schedule, despite Psion warning
Psion drops new product, cuts jobs
Thu, 01 Mar Shares drop as UK handheld computer maker cuts smartphone, warns of delays to Symbian devices
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