Taiwan's BenQ, which bought the struggling handset division from Siemens only about a year ago, said it isn't going to support the loss-making mobile-phone division BenQ Mobile anymore. BenQ said its board has agreed to stop putting capital into the unit, and BenQ Mobile said it would soon register for insolvency in a court in Munich. BenQ Mobile's management, however, said it is still looking at options for how to stay in business. One major problem looms: Consumers to the company's phones (there's a theme here). In less than a year, the company has seen its market share drop to just 3.2 percent from almost 10 percent for the two brands combined before the acquisition.
For more about BenQ's fate:
- read this article from Red Herring
- BenQ tries to stop the bleeding