Gigaset has had economic problems for some time and had to cope with a decline in sales in 2023. The company has been in insolvency proceedings since September 2023, you can read details about this in Gigaset files for insolvency: German veteran is fighting for survival. Now the ailing company, which is best known for its DECT landline telephones, has found a new owner, as Gigaset announces here.
VTech Holdings Limited will take over the operational business operations of Gigaset, which recently had around 850 employees. VTech is based in Hong Kong, which has been part of the People's Republic of China for many years and has long been firmly in the hands of the Chinese Communist Party. The Chinese are taking over Gigaset's entire business operations and its production facilities in Bocholt in North Rhine-Westphalia, including all land, patents, technical equipment and supplies for the production of landline telephones, as Spiegel Online writes. The takeover is scheduled to take place on April 2, 2024 by the VTech subsidiary Snom Solutions. In 2016, VTech took over the Berlin landline telephone company Snom Solutions GmbH.
Gigaset describes itself as the market leader for DECT landline telephones. However, fewer and fewer people are using landline telephones, and young people in particular often only have a smartphone. Gigaset also has to assert itself when it comes to DECT telephones against powerful competition such as AVM, which makes its Fritzfon series such as the new Fritzfon X6 extremely easy to connect to the Fritzbox. You can read more about this really recommendable DECT telephone in AVM Fritzfon X6 in the test: Top DECT telephone as a control center for the home.
Gigaset is also active in the mobile phone market and has been selling Android smartphones since 2015. However, these do not have a large market share. However, Gigaset is relatively important in the market for business telephony.
VTech is strong in landline telephones in the USA. In Germany, parents in particular are likely to know VTech: as a manufacturer of electric toys and learning products for preschool children.
Gigaset, founded in 2005, once belonged to Siemens. Gigaset has been its own company since 2008. Since 2014, Gigaset has belonged to a Chinese investor who has now sold the company to VTech.
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