The Symbian Foundation is reportedly set to shut down after asking is new executive director to wind down its operations owing to the lack of funds.
Citing a source close to the Symbian Foundation, The Register reports that the new executive director has been tasked with winding up of the operations and pay its employees redundancy packages.
The decision to shut down operations come due to the lack of funding as several prominent mobile phone makers, which had earlier backed the platform, have abandoned the OS for other operating systems like Google's Android and Microsoft's Windows Phone 7.
Samsung, one of the major Symbian backers, decided to let go of the OS in order to work on designing smartphones based on Android, its own Bada operating system and Windows Phone 7.
Sony Ericsson also said that it had no plans of launching a Symbian-based OS as it was focusing on developing Android-based smartphones.
Finnish mobile phone giant Nokia remains the only major backer of the Symbian Foundation. The company recently released its N8 smartphone based on the new Symbian^3 OS.