Proview profiled as a company on the brink
Proview is a company that seems to be standing at the bottom of a cliff, scrabbling with broken nails trying to make it up the side. A new profile of Proview by Reuters backs up this image of a company teetering on the edge of insolvency, clinging to the "IPAD" trademark as its last, best hope of achieving financial solvency.
It's an interesting read with some great insight into the company, which was once known for selling monitors in the late 90s. It also outlines what could happen to the group upon the outcome of the trademark dispute -- now being fought on dual fronts in the U.S. and China. Even if Proview won, the company is still bankrupt in Hong Kong and faces de-listing from the stock market in June. Relationships with some key shareholders is frosty at best, with a lawsuit filed against one of them.
If Proview wins the $1.6 billion that local media says it seeks from Apple, it's safe to say that most of that would be swallowed up by legal fees and paying off the creditors that Proview has owed for years.
[Via Apple Insider]
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