High Court winds up handheld
Accroding to an article on the The Register, Gizmondo Europe has gone into liquidation.
We previously reported on Tiger Telematics’ attempt to to put Gizmondo Europe into administration to protect it from its creditors, but the High Court hearing, which took place last week, ruled that Gizmondo Europe be wound up.
Read more on this over on The Register.
HEXUS.afterburner
The demise of Gizmondo Europe is something that has been on the cards for some time and, looking back over the company’s brief history, it hardly comes as a shock.Ever since we first published details of their financial report Gizmondo has been under the spotlight, not because of their product but all the dealings going on within the firm itself. As we have always said, on paper the Gizmondo is a cracking unit and so feature packed that it’d be hard to beat at it’s current price point.
Sadly for the Gizmondo Europe employees who are now out of a job, it really does appear that simply dreadful mis-management has lead Gizmondo to where they are now. Spiralling costs, manufacturing problems, questionable management and poor marketing have killed off what could have been a serious contender in the hand-held market.
Ironically, The Register report states that parent company Tiger Telematics may buy off parts of Gizmondo Europe as it’s is broken up by the liquidators. One has to question whether they’ve done enough damage already?
