BenQ Mobile to be Split up and Sold

BenQ Corporation failed to find a buyer for BenQ Mobile, its ill-fated handset business, after months of negotiations and false starts. That means bankruptcy administrators will soon start carving up the company, selling off real estate, inventory and machinery to satisfy creditors.

Siemens AG agreed to sell its money-losing mobile phone manufacturing business to Taiwan’s BenQ Corp. in June 2005, but in August 2006, the new owner announced plans to cease investment in the German sites after concluding they were uneconomic.

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