Looks like BenQ’s attempt at hitting the Euro-America cellphone market is a dud. BenQ Mobile is closing its doors and laying off 3,000 employees. Apparently the company made no money, burned through initial investments like a cokehead with a year-end bonus, and is now dead.
But the problems started almost immediately. BenQ invested €840 million in the mobile phone project only to generate huge losses. In the first quarter of 2006, the company was in the red to the tune of €155 million. And that following a disappointing Christmas season last year.
I never had an issue with BenQ phones – most of them were fairly cool – but they never really made it over here and when we asked BenQ reps over and over last year when they’d start selling in the U.S., they just kind of said “Meh?” and went and got another beer.
BenQ Bankruptcy Causes Furor [Spiegel]