Creative Technology nearing death?
January 4th 2009
Reuters reports that Singapore's Creative Technology, which makes digital music players and once fancied itself an Apple competitor, has cut its workforce by 2,700, or almost half, after the firm sold its manufacturing unit in Malaysia.
The moves came during the 12 months ending June 30, 2008. Further, for the quarter ending September 30, 2008, the company reported a loss of $32.2-million.
Up until about mid-2005, Creative's media players held a double-digit share of the market. In 2006, following a large settlement over a patent issue, Creative tried to refashion itself as an Apple-licensed "Made for iPod" accessories and add-ons vendor.
By May of last year, Creative's media player market share had fallen to 2%, behind even Microsoft and its widely derided Zune player.
