AfterDawn: News

Syntax-Brillian, maker of Olevia HDTVs, files for bankruptcy

The United States-based TV maker Syntax-Brillian, maker of the once-popular Olevia HDTV brand, has filed for Chapter 11 bankruptcy protection after a year "of weak sales", lawsuits, accounting issues and liquidity problems.

The company is now negotiating with creditors and lenders to secure capital, but has stopped its operations in Arizona. A few of the notable creditors of the company are Singapore-based WesTech Electronics Ltd, Taiwan's Compal Electronics, cable sports network ESPN and Taiwan's Digimedia Technology Co.



For the fiscal year ended June 2008, Syntax-Brillian's total assets were $175.7 million USD comapred to almost $300 million USD in unpaid debts. The company cited "a U.S. Securities and Exchange Commission enquiry and the loss of confidence of suppliers, vendors and employees" as the main reasons for the erosion of its business.

The bankruptcy filing includes all the company's assets with the exception of Vivitar, the company's digital camera unit, which is going up for sale.

Written by: Andre Yoskowitz @ 9 Jul 2008 2:41

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• 13 comments

• iluvendo

  The US recession is hitting hard.

  9.7.2008 08:18 #1

• 7thsinger

  That's no joke.
  
  So Vivitar is going up for sale. Hmm...wonder who'll pick them up.

  9.7.2008 08:32 #2

• rtm27

  Hate to say it.......but, who's next??

  9.7.2008 09:14 #3

• eatsushi

  LCD sales actually grew 74% in 2007. The problem with Olevia is that they were completely outsold and out-marketed by Vizio.
  
  Vizio Leads LCD Sales; Syntax-Brillian Remains in Seventh Place
  
  Originally posted by iluvendo: The US recession is hitting hard. Actually some surveys show that the difficult economic times could help the home entertainment sector. Instead of travelling and shopping for clothes, etc. people would rather spend time at home and watch movies.
  
  Report: Cash-Strapped Consumers Turning to Home Entertainment
  
  Hard economy might help home entertainment/NPD: 18% of DVD buyers say they'll boost spending

  9.7.2008 11:19 #4

• 7thsinger

  Originally posted by rtm27: Hate to say it.......but, who's next??Only time will tell. It's everywhere right now it seems.
  
  Quote:Actually some surveys show that the difficult economic times could help the home entertainment sector. Instead of travelling and shopping for clothes, etc. people would rather spend time at home and watch movies.
  I can certainly see the logic there. I know the hard times are evident everywhere, and it could in theory produce more of a homebody style of recreational habits.

  9.7.2008 11:29 #5

• emugamer

  Quote:LCD sales actually grew 74% in 2007. The problem with Olevia is that they were completely outsold and out-marketed by Vizio.
  
  Vizio Leads LCD Sales; Syntax-Brillian Remains in Seventh Place
  
  Originally posted by iluvendo: The US recession is hitting hard. Actually some surveys show that the difficult economic times could help the home entertainment sector. Instead of travelling and shopping for clothes, etc. people would rather spend time at home and watch movies.
  
  Report: Cash-Strapped Consumers Turning to Home Entertainment
  
  Hard economy might help home entertainment/NPD: 18% of DVD buyers say they'll boost spendingGood articles eatsushi. The last one brings out a very good point though. If people don't already have an HDTV, then they are probably not going to go out and get one. Media may see some boost, but electronics may not.
  
  It seems like everyone is getting hit hard by the gas prices. My family is feeling the crunch. Fortunatley I haven't had to turn to credit cards for the necessities (yet), but things are getting really tight. We cut our family vacation this year and make up alternatives to going out. Our eating habits have changed. And for the worse, because healthy food is much more expensive. I just keep thinking to myself that we have to get past this Summer, but then my heating oil bill will come in the Fall:( And don't get me started on the US Health Corrupt system. My provider was changed on me and literally wiped out my bonus for the year. Who would have thought it would be this bad so fast? Glad I got my PS3 early in the year, but every day that passes, the $$$ that I can get back for it seems more appealing.

  9.7.2008 14:01 #6

• lynchGOP

  'BOUT FRIGGIN' TIME!!!!!!!!!!!!!!!!!!!!!
  
  Olevia is crap! Garbage! SubPar! and frankly............anyone who buys into that shizzy doesn't know sh*t from shinola about quality technology.
  
  I compare Olevia to Payless Shoe Source; The product is cheap enough (pricewise) to be able to routinely replace every period of time.
  
  Also kinda like Buick, the 'poor man's Cadillac', Olevia is the 'poor man's Sony, Sharp, Pioneer, etc' and is for those who want but can't afford the technology.
  
  
  Ba Bye and Cheeri-"O" and more importantly GOOD RIDDANCE!!!!

  9.7.2008 14:30 #7

• domie

  Quote:
  Good articles eatsushi. The last one brings out a very good point though. If people don't already have an HDTV, then they are probably not going to go out and get one.I don't follow that logic - of course sales are down due to the economic downturn but surely in hard times the people most likely to buy an HDTV are those who don't already have one - those who have already bought one will stick with what they've got.

  9.7.2008 20:28 #8

• emugamer

  Quote:Quote:
  Good articles eatsushi. The last one brings out a very good point though. If people don't already have an HDTV, then they are probably not going to go out and get one.I don't follow that logic - of course sales are down due to the economic downturn but surely in hard times the people most likely to buy an HDTV are those who don't already have one - those who have already bought one will stick with what they've got.During hard economic times, it makes sense that a person will make due with what he/she has. When the cost of living goes up (health care, gas, food) less people are inclined to drop $500 - $1,500 on a HDTV or sound system. And then that person would have to think of investing in HD media, or getting HD channels. Their current provider may charge more/month for a HD upgrade. Who knows. The furthest thing from the average persons mind (someone who is struggling to make ends meet during difficult economic times) is going to be buying a bluray movies IMO. That person will probably be happy renting DVD's or finding some other way to enjoy entertainment with what he/she already has and not worry about the cost of investing in new technology. That's my opinion and what I took away from those articles. Depends on the person(s) and their individual circumstances. I'm just speaking from my own situation. No new television for me until I am sure that my home oil bill can be paid by December. I'll get a free DVD from the public library if I want to watch something.

  9.7.2008 22:31 #9

• B33rdrnkr

  The reality of them filing for bankruptcy is that they have sh1@ty products.. My boss bought 15 of their HDTVs and I am happy to say that I got the only one that did not have to be returned or did not take a crap on whomever bought them.. I cannot even get a code to use my cable remote with it.. I have to have two separate remotes(sux} And once in a while it will shut off for no apparent reason.. So they just were not cut out to be in this business.. But hey $300.00 for a 27 inch HD I could not pass it up..

  9.7.2008 23:35 #10

• 1bonehead

  At one point wasn't Brillian a pretty decent company making good products ?
  

  The BPI Are: SONY, UNIVERSAL, WARNER GROUP, EMI.
  The RIAA Soundexchange Are: SONY, UNIVERSAL, WARNER GROUP, EMI.
  The IFPI Are: The same anti consumer lot as listed above!
  The MPAA Are: SONY, UNIVERSAL, WARNER GROUP, DISNEY, PARAMOUNT, FOX.

  11.7.2008 21:05 #11

• iluvendo

  Originally posted by 1bonehead: At one point wasn't Brillian a pretty decent company making good products ?
  I guess not any longer.
  

  If it wasnt for bad luck, Id have no luck!
  "The flimsier the product,the higher the price"
  Ferengi 82nd rule of aquisition

  12.7.2008 03:40 #12

• jedimind

  Actually, all of their products are not that bad. I myself own a 747i with an HQV processor built in. It blows anything in it's price class (for SD picture quality) AWAY!!!
  
  I compared it to SONY'S, PANASONIC'S, SHARP'S and PIONEER'S SD picture processing, NONE OF THEM came close to a better SD picture.
  
  Remember, quality is not in a name.

  13.7.2008 21:43 #13