Psion to Cut 250 Jobs, Shift Its Focus

Psion, which sold the first electronic organizer in 1984, abandoned plans for new hand-held devices and said it will cut 250 jobs, or 20% of its work force. Psion said it is shifting its focus to wireless industrial and enterprise markets as its consumer-products division, Psion Digital, continues to struggle amid a marketplace glut of hand-held computers and cellular phones.

The London-based company also said it’s delaying the introduction of products based on so-called Bluetooth technology, which enables mobile devices and computers to communicate without wires.

The unprofitable company said first-half revenue for the unit that makes computers and modems fell 53% to about $50.4 million. U.S. shares fell 8 cents to close at $1.