Skip to Content

New to the Mac? Check out TUAW's Mac 101
AOL Tech

Gizmondo misses payments, selling Smart Adds

Ok, we're not going to say we're not kicking 'em while they're down or anything, but it looks like the US launch of the Gizmondo didn't do a whole lot better than their Euro launch of the console, and as a result Tiger Telematics' hand looks like it's being forced by collections on those many millions of piled up debt. So what's a company to do in the face of such monetary adversity? Hemorrhage some IP, of course. In order to keep the SEC and their investors at bay after missing massive loan repayments last October and November, they're putting Smart Adds (you remember Smart Adds, right?) up on the block in order to deflect some of that $22.3 some-odd million that's long since come due. Basically, in other words, Tiger's started cutting up the cookie in order to keep from drowning -- but make no mistake, their heads are still deep below water. Not that any of this should be coming as a surprise to anyone who reads Engadget, right?
Subscribe to these comments

Reader Comments (Page 1 of 1)

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.

Follow us on Twitter
Engadget Video


AOL News

Joystiq

Download Squad

TUAW

BloggingStocks

Asylum

Autoblog

Switched.com

FanHouse

Autoblog Green