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Non-Tech : Any info about Iomega (IOM)?
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To: RedCrystal who wrote (57055)7/7/1998 5:47:00 PM
From: Mel Boreham  Read Replies (1) of 58324
 
Red Crystal, just found an interesting news item over on the WSJ website. It involves Venture Manufacturing Ltd (P.VMF) an electronics contract manufacturer located in Singapore. This company seems to be doing quite well despite its Asian exposure. Go to wsj. com and to IOM news for the whole article. Below is an excerpt from it regarding Ventures relationship with Iomega and how it feels about its products:

<snip>

At 0715 GMT, Venture shares were trading at S$3.620 from Friday's close of S$3.640.

"(Iomega's) doing well in terms of sales," he said. "The difficulties are due to the expenditure side."

Iomega had spent too much on marketing and advertising, he said, but a planned cost-reduction program, which includes staff cuts, would help the company improve its bottomline.

Wong said Venture has no plans to reduce its exposure to Iomega, which he said currently accounts for 10%-15% of the contract manufacturer's revenue.

He said Iomega's mass data storage products are in high demand and are increasingly being used by personal computer makers, such as U.S.-based Compaq Computer Corp. (CPQ). Compaq recently announced Iomega's Zip drives will be a standard feature on most of its new computers.

"The products are great," he said. "More (computer makers) will use more of Iomega's products in their mainstream products."

<snip>

Very interesting news about the USB Zip for the new Mac. Funny, I had just mentioned that the USB interface would probably be announced later this year in one of my recent posts, and what do you know...

Mel
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