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Wireless

Jolla files for debt restructuring

Tuesday 24 November 2015 | 09:00 CET | News
Mobile developer Jolla has filed for a debt restructuring programme, after it failed to raise more funding for its Sailfish OS. Jolla said its latest financing round, which aimed to end in November, was postponed and the company filed for the debt restructuring n Helsinki in order to ensure the continuity of its business. In an effort to reduce its costs, the company said it will temporarily lay off a big part of its personnel. Started four years ago by former Nokia employees, Jolla has raised USD 50 million to date to develop its Sailfish mobile operating system based on the MeeGo software

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Categories: Mobile & Wireless
Companies: Jolla
Countries: World
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