Computing - Korean TriGem files for Court Protection
May 27, 2005
Facing financial crisis, Korean TriGem Computer filed for court receivership at the Suwon District Court in May 2005. The maker claims that the relentless price competition from Taiwanese maker is seriously eroding its sales. Its ODM (Original Design Manufacturing) orders were halved as a result of competitor pricing. The court protection program will permit TriGem to postpone debt payments. In the future, the maker plans to reduce operations abroad and concentrate on the domestic notebook PC market, where it generates higher profits. Structural adjustments will also take place in the mean time. Despite the changes, TriGem pledges to continue providing after-sales services to former consumers.