BenQ-Siemens confirms it will be placing part of the business into insolvency

BenQ Siemens

News:

BenQ announced in Taipei that there will be no further payments to BenQ Mobile GmbH & Co OHG. Both revenue and margins will fall far short of expectations in the important Christmas quarter. Due to the discontinuation of further financial support from the parent company, BenQ, and the difficult business situation resulting in a lack of liquidity, BenQ Mobile in Germany will file for insolvency at the local court in Munich within the next few days. The BenQ Mobile Headquarter in Munich, as well as the sites Kamp-Lintfort and Bocholt in North-Rhine-Westphalia, with a total of approx 3000 employees, are affected.