BenQ to Discontinue Investment in German Mobile Phone Subsidiary
September 29, 2006
Taiwanese BenQ has announced plans to terminate funding for its German mobile phone subsidiary and file for insolvency protection. BenQ and the German unit will operate as two entities following the decision, but the BenQ-Siemens brand will be retained and operate through cross-licensing. BenQ's subsidiaries in Brazil and other locations will also undergo financial reviews and await further decisions. However, mobile phone R&D and manufacturing activities in Taiwan and China will remain intact.