2023 was not a good year for Gigaset. Now bankruptcy developments are taking their course.
The next step in the tragic case of Gigaset, the Bocholt telephone manufacturer, has been launched. loudly Press release The Münster District Court has now introduced standard bankruptcy proceedings. Over the past few years, Gigaset has built a reputation as a committed, if not perfect, smartphone manufacturer with a “Made in Germany” seal of quality, which suddenly ends.
Gigaset, which claims to be Europe’s market leader for cordless telephones with around 850 employees, had already filed for bankruptcy in September 2023. This was triggered by an unexpected drop in sales in the second half of the year. Additionally, there was significantly weaker demand for Gigaset products and a general decline in usage in Germany and Europe.
Gigaset: Telephone pioneer and German smartphone hope gone bankrupt
According to the company, the development, production and distribution of DECT telephones continued without interruption despite the bankruptcy. The search for investors has been ongoing since late October to sustainably restructure the operational business.
Apart from cordless phones, the 175-year-old heritage company’s portfolio includes smartphones with Android operating systems, cloud-based smart home solutions and business telephony. It remains to be seen whether Gigaset can survive this crisis and avoid bankruptcy. It would certainly be desirable for Germany as a telecommunications location
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