“There are no opportunities to create a new line of business in the current financial climate.” Those are the words of UIQ CEO Johan Sandberg as he informed Reuters UK that UIQ Technology AB was filing for bankruptcy. UIQ, owned in majority by Sony Ericsson and Motorola, received a death blow from which it could not recover as a result of the formation of the Symbian Foundation, and with the introduction of Nokia’s touch-friendly mobile operating system, S60 5th Edition. UIQ first began cutting its workforce back in July as its majority holders moved to the Symbian platform. Both Sony Ericsson and Motorola joined the Open Handset Alliance as well, leaving little room for the UIQ OS which has struggled with adoption throughout its lifespan. Now that Symbian will be available to partners free of charge thanks to the Symbian Foundation, the world’s most popular smartphone OS proved to be too much for UIQ to compete with. UIQ currently employs approximately 200 people and it has yet to make a formal statement regarding its bankruptcy.