Beleaguered Singapore-based portable audio and media player (and more recently, “Made for iPod” accessories maker) Creative Technology said Thursday it intends to delist voluntarily from the Nasdaq Global Market to save on costs.
Beleaguered Creative will maintain its listing in Singapore (SGX-ST, since 1994), according to a statement posted on its Web site.
The beleaguered company, whose CEO Sim Wong Hoo once declared “war” on Apple iPod back in November 2004 with, “The MP3 war has started and I am the one who has declared war… It’s our target to beat iPod… I’m planning to spend some serious money. I intend to out-market everyone… Creative is targeting a 40 percent share of the global MP3 market [in 2005],” said its last trading day on Nasdaq will be August 1.
Beleaguered Creative’s press release – quick, read it before they try to “save costs” on web hosting, too – here.
Eating your own words there!!!
Give up and become an accessorie maker!!!!
iPod, killer.
Wow. They must really be in trouble if they have to take measures like this. Does anyone know how much it cost to be listed on Nasdaq?
Still can’t believe they won the patent for a media player interface based on Mac OS X’s column view…
Zune is NEXT……
“It’s our target to beat iPod… I’m planning to spend some serious money.”
He should have gotten a loan from MS. Then he could have spent some serious Monopoly money.
iPod, bitch.
Spend serious money? Out market? Eh, am I missing something? I don’t remember any Creative marketing. Maybe it was lacking in creativity.
“Still can’t believe they won the patent for a media player interface based on Mac OS X’s column view…”
NeXT’s column view no less. From 1991.
Why don’t they come up with another lawsuit and get some sleezy publicity. Funny only Apple infringed on the MP3 menu heirarchy, Huh! Of all those MP3 players on the market.
sj: good point!
the cost of war affects everyone…..
Beleaguered Creative = Cute, idle eager beaver.
attention Mr. Dell: this is the first step. next they can sell everything off and give the money back to the shareholders. watch close, you will have to do this soon…….
Geez, this could only mean that they’ve already burned thru the entire $100 Million that they received from Apple just last year to settle that patent deal. How incredibly pathetic.
or even VAGUE LEADER BE RECT
Beleaguered
Beleaguered
Beleaguered
Beleaguered
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Beleaguered
great writing ! NOT
“they’ve already burned thru the entire $100 Million”
I’m sure that buys a lot of Hoo Ho’s.
Goes to show you that too wise doesn’t make a Wong.
deeee, a live cat burger!
T M F = Hilarious!
@TMF
Hoo is Wong, not wise.
Thanks, Buster.
(Pssst. That’s what I was going for.)
Sim Wong Hoo was seated next to a 10-year-old girl on an airplane. Being bored, he turned to the girl and said, “Let’s talk. I”ve heard that flights go quicker if you strike up a conversation with your fellow passenger.”
The girl, who was reading a book, closed it slowly, rolled her eyes and said to Hoo, “Fine. What would you like to talk about?”
“Oh, I don’t know,” said Hoo. “How about graphical user interfaces?”
“O.K.,” she said. “That could be an interesting topic. But let me ask you a question first. A horse, a cow and a deer all eat the same stuff… grass. Yet a deer excretes little pellets, while a cow turns out a flat patty, and a horse produces clumps of dried grass. Why do you suppose that is?”
Hoo thought about it awhile and finally said, “Hmmm, I have no idea.”
To which the girl replied, “So, do you really feel qualified to discuss GUIs when it’s obvious you don’t know shit?”
R.I.P Creative.
You WONT be missed.
Made me laugh how this company calls themselves the word that sums up everything they arent.
Creative have never been creative in anything, expect getting the patent that they should never have got in the 1st place.
@ Kev,
The fees depend on how many shares you have outstanding. But the annual fees range from $30K to $95K. The initial listing fee is a non-refundable $5,000.
http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf
Creative started life upgrading Mac’s (Lisa) in a little shop in Singapore.
Creative ended life trying to compete head to head with a tiny little Mac in a sprawling metropolise in Singapore.
Was Wong wite? or was Wong Wong?
Wong was wite when he was upgrading the Mac Lisa,
Wong was Wong when he went head to head with a Mac.
Will Wong be wite again?
Who knows…
thats all!
Per Nasdaq:
http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf (p. 14 of 30)
Total Shares Outstanding Annual Fees Annual Fees for ADRs
Up to 10 million $30,000 $21,225
10+ to 25 million $35,000 $26,500
25+ to 50 million $37,500 $29,820
50+ to 75 million $45,000 $30,000
75+ to 100 million $65,500 $30,000
100+ to 150 million $85,000 $30,000
Over $150 million $95,000 $30,000