GamerNode: News - Gizmondo Is Dead

Gizmondo Is Dead

GamerNode reported last month that Gizmondo Europe was having some major problems in its company operations because of scandal, ill-conceived business decisions and upper management taking liberties with company funds for personal use. Gizmondo tried to put on a brave face amidst all the turmoil, but has finally succumbed to the inevitable. The English High Court of England has ordered Gizmondo Europe to close its doors, pack up its handhelds and put their remaining assets into the hands of a liquidation firm, according to RegHardware. The ruling was officially made on February 2nd. According to U.S. SEC documents, Tiger Telematics, who is the parent company of subsidiary Gizmondo Europe, said that it "¦assumes that the liquidator will terminate the remaining employees of Gizmondo Europe, cease Gizmondo Europe's operations, including the Gizmondo help desk, email and other product support services, and attempt to sell the assets. The recent downturn of events for the competing handheld game console manufacturer has Tiger Telematics shaken. Tiger is now considering shutting down its game studios located in Stockholm Sweden and Manchester, England as reported by RegHardware. Tiger Telematics, once a big player in the boom time of small electronics handheld games during the 70™s and 80™s, has found itself squeezed out of the picture. Tiger™s entry of the doomed Gizmondo machine was most likely fueled by a desperate attempt to establish a market position. However, the market already had two hungry opponents: the PSP and Nintendo DS. In an odd twist of fate, the Gizmondo handheld may now be more popular than ever before, not because of its superior technology, but because it is now a rare collectable.

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