In buying out its joint venture partner Nokia, German smart card maker Giesecke & Devrient said it remains committed to the trusted service management business, despite delays in rollouts of Near Field Communication services.
The split between G&D and Nokia comes nearly three years after the joint venture officially began doing business, as Venyon, the first company formed purely in anticipation of the TSM market for NFC phones. G&D and Nokia had announced plans for the venture six months earlier, in June 2006.
At the time, many in the industry, G&D and Nokia among them, thought NFC rollouts would begin in 2008 and as projects expanded, there would be demand for millions of application downloads, as well as management of the services over the air.