Jolla Files For Debt Restructuring

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Jolla Ltd., the Finnish developer of Sailfish OS, based on the former Meego OS announced that their latest round of financing shall be postponed, and have filed for debt restructuring. According to Anttii Saarnio, Chairman and Co-founder of Jolla, the Finnish laws will enable the continuation of business throughout the debt restructuring.

While I have not personally played with Sailfish, the gesture based OS looks very similar in UI to BB10, and is a breath of fresh air in a mobile market which is rapidly becoming a duopoly of Android and the always limited iOS.

Saarnio states in the Jolla press release, “Typically for start-ups Jolla
has gone through several death valleys along its four year journey. We’ve fought them
through and now we are facing again a great challenge. Our operating system Sailfish OS
is in great shape currently and it is commercially ready. Unfortunately the development
until this point has required quite a lot of time and money. To get out of this death valley
we need to move from a development phase into a growth phase. At the same time we
need to adapt our cost levels to the new situation. One of the main actions is to tailor the
operating system to fit the needs of different clients. We have several major and smaller
potential clients who are interested in using Sailfish OS in their projects.”

Jolla phones and tablets quickly sell out during their crowdfunding campaigns, in which the devices are sold at a fairly low cost, however it appears that these crowdfunding campaigns aren’t enough to keep Jolla in business. Jolla will be ‘temporarily’ laying off a large portion of it’s workforce beginning in December as they restructure and seek funding.

See the press release in it’s entirety here.

Brad

Founder & Owner of UTB Blogs. Former BlackBerry Elite. When I'm not talking or writing about BlackBerry, you'll find me using my BlackBerry.

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