Nokia CEO Stephen Elop did not explain what Nokia’s doing with MeeGo and Symbian in his open letter, but they were outlined in a following press release. Symbian becomes a franchise platform, while MeeGo becomes an open-source, mobile operating system project. Details after the jump.

This press release outlines the new strategy and structure. Below are just the info on MeeGo and Symbian that you all want to know.

On Meego:

Under the new strategy, MeeGo becomes an open-source, mobile operating system project. MeeGo will place increased emphasis on longer-term market exploration of next-generation devices, platforms and user experiences. Nokia still plans to ship a MeeGo-related product later this year.

On Symbian:

With Nokia’s planned move to Windows Phone as its primary smartphone platform, Symbian becomes a franchise platform, leveraging previous investments to harvest additional value. This strategy recognizes the opportunity to retain and transition the installed base of 200 million Symbian owners. Nokia expects to sell approximately 150 million more Symbian devices in the years to come.