BenQ Mobile’s bankruptcy administrator has announced that the company will be broken up and sold off in pieces to other companies. The administrator cited a lack of a viable buyout option as the main reason for the decision. BenQ Mobile was acquired from Siemens, which until then sold phones in the United States on Cingular and T-Mobile. While BenQ Mobile had high hopes of increasing Siemens’ existing market share, the company never was able to recover from the buyout effect. Both Cingular and T-Mobile gave BenQ no confidence, failing to pick up one of their phones.
This follows Siemens bailout via a partnership with Nokia. Nokia Siemens is not affected by this shutdown, though 3,000 BenQ Mobile employees will be left to find new jobs.
