Former Nokia Employees to Launch Mobile Operating System

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The Wall Street Journal reports that some former Nokia Corp. (NYSE: NOK) employees have raised 200 million euros ($257.8 million) from several telecommunications companies to launch a new mobile operating platform based on discarded Nokia technology. They plan to unveil a new phone next month that operates on the MeeGo operating system, which Nokia abandoned in 2011 in favor of Microsoft Corp.’s (NASDAQ: MSFT) Windows.

So why get into a market dominated by Apple Inc.’s (NASDAQ: AAPL) iPhone and devices running Google Inc.’s (NASDAQ: GOOG) Android software? Jussi Hurmola, CEO of Finnish start-up Jolla Ltd., indicated that Apple’s aggressive legal campaign to beat back the growth of Android has prompted worried smartphone manufacturers to look for alternatives.

“Much of the recent litigation between Apple and Android makers have touched upon user interface infringement,” he said. “Our software is well patented and we haven’t copied anybody. That’s a big opportunity for device makers.”

Jolla plans to distribute its version of MeeGo free of charge to device makers. The company will earn fees from licensing its developed software features, as well as intellectual property rights related to the user interface. The system should be ready for licensing by other device manufacturers, design houses and service companies next spring.

Hurmola also suggested that an initial public offering might be in the company’s future.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618