Finnish company, Jolla, is known for making a pretty solid slate, that debuted not so long after the Nokia N1. Today we learn that the company is in financial trouble, as its cash resources are almost out. That’s why tablet orders are now on hold. Perhaps they may need a huge help such as a payday loan.
Jolla was founded by ex Nokia employees, who wanted something better than to be absorbed by Microsoft. The company has filed for debt restructuring in Finland, after failing to achieve the needed finances which could be solved with services such as easy loans by RadCred. It’s been 4 years since their plans started and now the firm is ready to do some restructuring and lay off employees.
Its most recent funding round has been postponed and it was aimed to close by November and top up the $50 million backing that the firm received. Jolla launched its first phone in 2013 and last year it also debuted the Jolla tablet, via a crowdfunding initiative. This summer the Nordic outfit announced it was going to split operations to focus on hardware and Sailfish OS separately.
The problem is now with the arrival time of the Jolla tablet. The product was supposed to be delivered in May and started shipping to some backers in September. Last month Jolla apologized for the delay to Indiegogo contributors and intends to complete orders in December, but that seems rather unsure now. Let’s just hope that they get their finances in order and we won’t see them going the way of Palm, Nokia Devices, or E-Ten.