Insolvent German Tech Company Gigaset: What’s Next for Customers and Products?

This is how things should now continue with the company from Bocholt.

September 24, 2023, 7:26 p.m

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At the moment, a veritable wave of insolvencies is still sweeping across Germany. In the past few weeks, several companies have run out of money. Some traditional companies are in deep financial difficulties.

Now another German company is being hit. Sales collapsed in the last few weeks and the company got into difficulties. The well-known smartphone and landline telephone manufacturer Gigaset recently announced that it was insolvent. Several factors led to the bankruptcy. On the one hand, the reluctance to buy in Germany and Europe is to blame.

Gigaset records a slump in sales

This led to a significant decline in sales in the second half of 2023. In addition, business development was below plan. Gigaset Communications GmbH decided to initiate insolvency proceedings under self-administration. But what should happen to the products now? So far it has been said that the development, production and sales activities for DECT cordless telephones would like to continue “unchanged” at this point in time.

“Over the last few years, Gigaset has not been able to compensate for the decline in its core business with DECT cordless telephones by setting the right course in the new business areas,” explained CEO Magnus Ekerot. Despite being Europe’s market leader in DECT cordless telephones, rescue measures must now be taken. For this purpose, a restructuring of the operational business is planned.