On Aug 8, 2006, GIGABYTE and ASUS together announced they have entered into a joint venture to produce GIGABYTE branded motherboards and graphics cards. A spokesman of GIGABYTE said a resolution of the board of directors was passed on the Mar 22 to call off the plan of forming joint venture. It's explained the confusion of clients and suppliers, together with the changes of both internal and external factors has lead to this hard decision. In the present environment, the necessity of forming joint venture is no longer as strong as expected, and thus suspension is the best solution for both shareholders, said GIGABYTE's spokesman. Although the joint venture has given up, GIGABYTE intends to keep its move on transferring part of its businesses onto the new subsidiary, meaning that a new GIGABYTE brand will come out soon after all.