It was reported yesterday that Psion would be exiting the handheld market. According to the earlier reports Psion was completely pulling out of the consumer handheld market other than selling off its current inventory and supporting the devices that have been sold.

Peter Bancroft, a senior spokesman for Psion, released a follow-up statement saying that "There will be more Psion consumer products in the future." According to Bancroft Psion is merely 'suspending' their plans to develop a consumer Bluetooth device.

Bancroft added that the slow development of Bluetooth technology was a major factor in Psion's decision to 'suspend' the development of their Bluetooth device. Psion saw no point in releasing a Bluetooth device when there were only a few other devices for it to communicate with.

In his statement Bancroft also adds that shrinking profit margins in the handheld marketplace have made it increasingly difficult to remain competitive while still making money. If/When Psion decides that the market is primed to receive their Bluetooth device it is highly likely that Psion will join with a partner, or Psion may simply sell the intellectual property.