Thank you Sylvain. After some talking on the IRC channel it seems that the phone is not sending the correct strings in HyperTerminal on Windows. I'll try with another cable and phone. It's really hard to find an already made USB cable.

--- On Fri, 1/7/11, Sylvain Munaut <246tnt@gmail.com> wrote:

From: Sylvain Munaut <246tnt@gmail.com>
Subject: Re: Osmocon not loading
To: "Bogdan Alecu" <b.alecu@yahoo.com>
Cc: baseband-devel@lists.osmocom.org
Date: Friday, January 7, 2011, 4:21 PM

On Fri, Jan 7, 2011 at 4:34 PM, Bogdan Alecu <b.alecu@yahoo.com> wrote:
>
> I used the steps from here http://bb.osmocom.org/trac/wiki/GnuArmToolchain to build the toolchain. I also tried with and without xor, no results.

Your cable is bad, don't look further ... if the loader doesn't see
the PROMPT1, nothing will ever happen and only a bad cable/connection
to the phone will do that. (or the phone serial port is damaged ...)

Sylvain