Gizmondo posts massive losses in financial results

[Schpickles]

http://www.gamasutra.com/php-bin/news_index.php?story=6658

Crikey :hmm:

Although only officially filed through December 2004, and showing net losses of approximately $99 million for 2004 alone, the company's SEC documents also show an operating loss in the first six months of 2005 of more than $210 million. According to Tiger, this gigantic figure is "principally due to development costs for the Gizmondo and non-cash expenses associated with shares of restricted common stock issued for services."

[Cheapshot]

:( They should just give up already...

[Konfucius]

I must say I'm not at all surprised, when I first heard about the Gizmondo I thought:
"omg!!!11 löl!!!!11 wtf!!!!11 it's going to flop. The n-gage flopped and from my uninformed point of view it's basically the same device."

[Kurtle Squad]

It's because nobody outside of REAL gaming, knows what a Gizmodo is.

[gorrit]

It was obvious all along that they would fail, and they will. They will not be able to get back those lossesm, sure parts of it, but like 65% of their market will today instead buy a PSP, 20% will buy a DS, 10% will buy a Micro and 5% will buy a Gizmondo.
They are doomed.

[DiemetriX]

I want a Gismondo Widscreen editon. just so that i can buildt it in my car...

[Shaze_Nab]

It's not really a huge supprise. Many companys have tried breaking into the handheld market, but have failed misrably... The only the difference this time is smaller hanhelds have to compete with two compays (Sony and Nintendo), which makes even harder for things like the Gizmondo.

[Schpickles]

It's not so much that they are struggling, its more the nature of some of the expenses that's alarming...

I mean, I'm sure there was a justification to buying a Gizmondo company Race Horse, but I can't really see it myself...

[demonmike04]

Oh well, i'l buy a gizmondo when there 20 quid then. Any one remember Cybiko? They were so up there own asses...but i liked a few of the games, they shouldnt of shown off so much though