Скачать или смотреть Gigaset files for bankruptcy

The Festnetztelefon (landline telephone) and smartphone manufacturer Gigaset has, according to its own statements, filed for insolvency. The company, based in Bocholt and employing 850 people, announced an insolvency application for its publicly traded parent company, Gigaset AG, on Tuesday. They plan to independently restructure the operational subsidiary, Gigaset Communications GmbH.

The primary reasons cited for this move include an unexpected and substantial decline in revenue during the second half of 2023, as well as a significant underperformance compared to their business projections. Additionally, they mentioned a persistent weak demand for Gigaset products and a reluctance to purchase in Germany and Europe.

The overarching goal of the insolvency proceedings under self-administration for Gigaset Communications GmbH is to achieve a sustainable restructuring of their operational business. They intend to continue their development, production, and distribution activities for the so-called DECT cordless phones without any changes.

This development has significant implications for Gigaset's future in the telecommunications market. It remains to be seen how the company will navigate these challenges and whether they can successfully reposition themselves in the industry. This situation underscores the dynamic nature of the technology market and the need for companies to adapt rapidly to changing consumer preferences and market conditions.