Foxconn Sues Creative For $500,000 ~ Creative Labs Zen MP3 Players Sound Blaster Card
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Thursday, December 9, 2010

Foxconn Sues Creative For $500,000



SINGAPORE - Foxconn Technology Group's Singapore unit has sued Creative Technology for failing to pay about $500,576 for supplies and services that Foxconn, the world's biggest contract manufacturer of electronics, says it provided.

Foxconn Singapore says Creative, the maker of the Zen music player and Ziio tablet computer, has repeatedly failed to make payment and has not given any "substantive" reason for its refusal, according to a lawsuit filed with the Singapore High Court.

Creative claims in court papers that Foxconn is not entitled to any payments because there are no contracts with either Foxconn or its flagship, Hon Hai Precision Industry. Foxconn also refused Creative's request for a discount, the Singapore-listed company said.

A hearing is scheduled for in Dec 2010.

BLOOMBERG

Is Creative having money woes or cashflow problems? Didn't know Creative has any business dealings with Foxconn, better known as the Chinese manufacturer for Apple's products such as iPods, iPhones and iPads.
Please feel free to let us know in the comments section below.

8 comments:

Anonymous said...

Back from long holiday...
Jimmy does not know how to read financial statements. Currently, Creative is out in the market doing share buybacks. You notice everyday you will see buyer(s) coming in to snap up sell orders. Obviously Creative still have hundreds of millions of US$ cash. It is a matter of principle. Creative is beginning to fulfill my mediabook vision. I believe you have heard of ZiiO space. And they should consider bringing some real games like WoW to their platform. These games demand high CPU, good to have high quality audio all which Zii is supposed to tackle well and it will be good to have it on the move too in a new generation compact form factor, not laptop.

Anonymous said...

wishful thinking...oncee they finish their share buyback, the price will continue to go down to $1...so whats the point buying back shares without the support of the market??? its a LPPL move...strong sell while they buy...you will buy back much cheaper later...guarantee...

Anonymous said...

You cannot even guarantee yourself a profit in Creative shares. Your trading history was huge loss, that's why you came back with our one aim, bash.

Jimmyboy88 said...

i am going for my long holiday tomorrow :))

Anonymous said...

It is important to have a break. But someone else seems not to have or cannot afford. LOL!

Jimmyboy88 said...

ok i am back, any news? :)

Anonymous said...

Ziio benchmark tests: better than Samsung tab using tegra and other android devices.

Jimmyboy88 said...

hopefully the geeks take note of this but majority dont care about benchmark tests

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