Wednesday, May 12th 2021
GIGABYTE Gives Public Apology for "Made in China" Mocking After Company Shares Plummet by $550 Million
On Monday, GIGABYTE, a Taiwanese PC manufacturer, has published a blog post that made fun of other component manufacturers for having their products made in China, the "low-cost, low-quality way". According to Bloomberg, who was the first to spot the blog post, which is now removed. According to the report, such a statement had a massive toll on the shares of the Taiwanese company. E-commerce operators in China, like JD.com Inc. and Suning.com Co., have removed GIGABYTE products from their offerings and searching GIGABYTE or "Jijia" (Chinese company name) returned zero results from these websites. This has single-handedly caused the shares of the company to plummet by 10%, wiping away around $550 million worth of market cap.
The original blog post has since been removed, and GIGABYTE has issued a public apology, which you can see here. The translation of the text says that "A few days ago, part of the text content published on our official website is seriously inconsistent with the fact. It is caused by poor internal management of the company. We sincerely apologize for the discomfort caused to you." The company has also noted that it is very proud of "Made in China" products. On a more personal note, it is interesting to see such a strict market response coming from a blog post, and even more interesting to witness this exclusion from the Chinese e-commerce companies.
Sources:
Bloomberg, GIGABYTE, via Tom's Hardware
The original blog post has since been removed, and GIGABYTE has issued a public apology, which you can see here. The translation of the text says that "A few days ago, part of the text content published on our official website is seriously inconsistent with the fact. It is caused by poor internal management of the company. We sincerely apologize for the discomfort caused to you." The company has also noted that it is very proud of "Made in China" products. On a more personal note, it is interesting to see such a strict market response coming from a blog post, and even more interesting to witness this exclusion from the Chinese e-commerce companies.
69 Comments on GIGABYTE Gives Public Apology for "Made in China" Mocking After Company Shares Plummet by $550 Million
Remember how Nike got canceled recently once they ditched Chinese contractors due to the use of Uighur forced labor?
www.forbes.com/sites/forbesagencycouncil/2021/05/11/dealing-with-a-pr-crisis-in-china/
:respect:
"Growing national pride" is certainly an interesting way to describe "need to grow a pair of fucking balls" lol
Who knew that of all things cancel culture would be the one to be backed by the CCP?
The only reason you may be prevented from mentioning them is in xenophobic and generalised statements.
Asus is the winner of that war (more revenue, while massively improving quality). The Asus budget offshoot Asrock has similar quality to Gigabyte (while selling for less)!
Gigabytes hardware is mostly middling, but the software is shit;, they lose to Asrock, then MSI then Asus (best).
Maybe not yet..
crossthem at your own peril as even probably Jack Ma found out towards the end of last year!