BenQ mobile likely headed for bankruptcy

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

Related article:
- BenQ tries to stop the bleeding


Like this story? Subscribe to FierceWireless!

The Wireless industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceWireless as their must-read source for the latest news, analysis and data on this increasingly competitive marketplace. Sign up today to get wireless news and updates delivered to your inbox and read on the go.