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Krisnatharok
Caveat Emptor
Premium
join:2009-02-11
Earth Orbit
kudos:12

OCZ Technology Group Fades To Black

said by Benchmark Reviews :

OCZ Technology Group Fades To Black

San Jose, California-based OCZ Technology Group, Inc. Begins Layoffs As NASDAQ:OCZ Value Plummets

Once upon a time between 2004-2006, OCZ was a well-known manufacturer of high-end memory components and power supply units that sold under the motto "Founded by Enthusiasts, for Enthusiasts". During the peak economy in 2007, OCZ Technology CEO Ryan Petersen proved his devotion to enthusiasts by purchasing PC Power & Cooling (May 2007), swiftly followed by elite system-builder Hypersonic PC (October 2007). Through the years that followed, OCZ's brand name would successfully sell NVIDIA GeForce graphics cards, overclocker heatsinks, premium thermal pastes, hardcore gaming peripherals, and even a mind-controlled Neural Impulse Actuator (NIA). On March 2008, OCZ Technology revealed the industry's first consumer Solid State Drive - the apex of their dedication towards high-performance computer hardware enthusiasts. The future looked so very bright.

Then the economic collapse found its way into the enthusiast PC market, bringing with it some difficult decisions. First, OCZ cut out non-core product development, including coolers, keyboards, mice, peripheral gaming gear, computer systems, and all the other products not pertaining to memory, solid-state drives (SSDs) and power supply units. This concentrated effort began to reshape their company focus, withdrawing from enthusiast hardware and building itself into an attractive corporation that could be bought and sold on the public stock exchange. Considering the popularity of SSD technology, this could prove beneficial to their financial future.

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(read more at link)
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Nearly one month later OCZ replaced interim-CEO and Chief Marketing Officer Alex Mei with Ralph Schmitt, a member of the company's board of directors since April 2011, as the company's President and Chief Executive Officer. Stock prices plummeted, dropping shares to $1.88 at the end of trading. The worst was yet to come, as several class-action lawsuits would be announced as a reaction to OCZ Technology Group allegedly making misleading statements and misstated financial results. OCZ traded for only $1.24 on 22 October 2012, and some executives were put on notice for lay-off. As of Friday, many of the great minds behind OCZ's enthusiast movement were without work.

Good synopsis summarizing OCZ's meteoric rise and fall as a hardware company. I think the writing is on the wall.
--
If we lose this freedom of ours, history will record with the greatest astonishment, those who had the most to lose, did the least to prevent its happening.


shinjuru
Premium,Mod
join:2000-10-29
West Coast

Reminds me of BFG Tech. Pretty sad.


Kearnstd
Space Elf
Premium
join:2002-01-22
Mullica Hill, NJ
kudos:1
reply to Krisnatharok

sad to see them go, they did have a good market. Hey on the bright side they might get two days grace of stock harm, the exchanges may not open on Tuesday either.
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports



fnord76
Elder God
Premium
join:2002-05-14
Troy, IL
kudos:2
reply to Krisnatharok

Glad I got my rebate for my Power Supply in time. Too bad it happened though. I had heard they made good stuff.



Phantasee

join:2009-08-27
Hammond, LA
reply to Krisnatharok

And I have had great luck out of OCZ as well as BFG in the past. Still have an OCZ PSU and BFG 8800GT from 2008 that are still in a PC.



Ghastlyone
Premium
join:2009-01-07
Las Vegas, NV
kudos:5
reply to Krisnatharok

I wonder how this will effect any future Firmware updates for my OCZ SSD?

Probably a stupid ass question on my part.



pr1mo
Premium
join:2003-11-12
Harwood Heights, IL
kudos:2
Reviews:
·Comcast Formerl..

said by Ghastlyone:

I wonder how this will effect any future Firmware updates for my OCZ SSD?

Probably a stupid ass question on my part.

...and I bought a vertex3 about half a year ago, too.


dean corso

join:2007-09-07

^ Bought a Vertex4 two months ago. :-\



Krisnatharok
Caveat Emptor
Premium
join:2009-02-11
Earth Orbit
kudos:12

Thinking of buying a Vertex 4.



atuarre
Here come the drums
Premium
join:2004-02-14
Conroe, TX
reply to Krisnatharok

Maybe prices will drop!



banditws6
Shrinking Time and Distance
Premium
join:2001-08-18
Frisco, TX
Reviews:
·Time Warner Cable

said by atuarre:

Maybe prices will drop!

The Vertex 3s and 4s were sure cheap on Newegg's [early] Black Friday sale today -- while they lasted, anyhow.
--
"The counsel of fools is all the more dangerous the more of them there are." -Ólafr Höskuldsson