Benq Mobile goes down the tubes

Liquidated

By INQUIRER newsdesk

Tue Jan 02 2007, 15:47

BIG TAIWANESE firm, Benq's gamble on becoming a mobile phone maker has ended in failure.

Insolvency proceedings were yesterday begun in Germany on behalf of the firm's creditors after administrators failed to find anyone willing to buy up the ailing business.

The outfit couldn't swallow up the Siemens mobile business it bought two years ago and ended up choking itself into liquidation.

Benq threw in the towel in September after suffering "unsustainable losses". The failure to find an investor leaves as many as 3,000 workers facing the new year on the dole.

Beancounters will reveal their fate this tomorrow. µ

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Benq Mobile goes down the tubes

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