14 DAY TRIAL // An official from BenQ Mobile stated that the company will be dropping the 'Benq-Siemens' brand name for its mobile handset business and readopting its own brand, starting with the launch of several new mobile phone models.
Considering that since their takeover of Siemens' mobile phone division, the Taiwanese manufacturer has suffered five consecutive quarters of losses and is now reporting a net loss of $238 million for the fourth quarter of last year, it's no wonder they want to drop the 'Siemens' from their name.
Earlier this week, K Y Lee, the founding chairman and chief executive of Benq had even offered his resignation to take responsibility for the mobile division's problems. Later on, Benq announced that the board "demanded he continue his role to reach the target of turning around the company as soon as possible".
According to the company, the losses were due to the mobile phone business, especially servicing and warranty costs. In Germany, the Benq Mobile division struggled for quite a while to find a buyer, but having failed to do that, it was forced to declare bankruptcy.
Moreover, only last week Benq's chief financial officer Eric Yu was detained on the order of a prosecutor investigating allegations of insider trading one year ago. The company that among others manufactures a wide range of PC peripherals and LCD monitors, will continue to produce mobile phones in Asia.
Now, the only question is, will Benq actually manage to turn things around? While some people were greatly affected by the 'death' of German based Benq Mobile, the loss of Benq altogether would be even more significant. For now, Taiwanese Benq Mobile is planning to launch 12 new mobile phones throughout this year. The company has unveiled their P51 PDA just a few days ago.