BenQ announces closure of German subsidiary due to lack of investors

Sapo opens laboratory at the University of Aveiro

The German division of BenQ Mobile will be dissolved shortly after attempts to attract investors who saved the bankruptcy branch failed, Martin Prager, a spokesman for the company, admitted to the Associated Press.

Affirming that the closure of BenQ Mobile in Germany is a clear reflection of the market position against the company, the spokesman declined to disclose the name of the last possible investors, saying only that «there is no chance for the sale of the company as one all».

Since October, BenQ has held talks with prospective investors, including Sentex Sensing Technologies and SF Capital.

None of the agreements came to pass since the offers presented were not sufficient to cover the cost of production and financial support for the company.

In the coming weeks the company will be completely dismembered, with the aim of the company being to auction some of BenQ’s assets, including real estate, machinery and patents.

In 2005 Siemens agreed to sell its mobile phone division to BenQ, in a deal that involved 413 million euros and provided for the right to place the Siemens brand on mobile terminals for a period of five years.

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