Qualcomm to invest in Modu…

 

According to Globes Online, Qualcomm (NSDQ: QCOM) is going to pour $7m in to handsets company Modu. You might remember Modu as the company that developed very small, fascia-chaning mobile devices – all very design-centric (check out our previous stories here, here, and here). The company will then have had a total of $92m, which is a decent amount of cash-ola. 

Modu has had a variable ride over the last year – it got a lot of positive press attention, and then laid off 25% of it’s staff. Also, perhaps it’s just me, but the concept of fascia-changing devices never really caught on, did it? Nokia (NYSE: NOK) did it some time back with their Xpress-On range – and if the world’s largest handset vendor can’t make a success of it, what chance does a smaller company have?

Well, I won’t wish problems on any company – especially when it comes to people losing their jobs – so let’s hope Modu goes from strength to strength from here, and has a good 2009!

[Via: Globes Online]