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Posted on 08/10/2006 6:53:47 PM PDT by martin_fierro
Creative sinks into red, struggles against iPod
Wed Aug 9, 11:56 PM ET
SINGAPORE (AFP) - Creative Technology said it has slipped into the red for the year to June as the digital entertainment products maker continued to struggle against Apple's iPod in the MP3 player market.
The Singapore-listed firm chalked up an annual net loss of 118.2 million US dollars compared with a 588,000 dollar profit in the previous year, amid market forecasts for a full-year loss of 128.7-140.0 million dollars.
Despite the full-year loss, Creative was upbeat the company could return to profitability by the end of 2006 amid ongoing efforts to trim expenses and hopes of a boost from the launch of new products.
"During the fourth quarter, although we posted a loss for the period and for the year, we made progress towards our goals," said Craig McHugh, president of Creative Labs Inc.
He also pointed out that operating expenses were reduced by 17 percent from the previous quarter.
"Based on our progress in the fourth quarter, our focus on reducing our operating expenses, and the market potential for our products, we are targetting our return to profitability by the end of this calendar year and continued profitability going forward," he said.
Sales in the year to June totalled 1.13 billion dollars, down from 1.22 billion dollars in the previous year.
For the fourth quarter ended June, Creative narrowed its losses to 12.7 million dollars from 31.9 million dollars last year, partly due to a 10-million dollar tax writeback.
Founded in 1981, Creative gained global fame for its SoundBlaster card that allowed personal computers to be used as home entertainment units but it has struggled recently after venturing into consumer electronics.
Creative has targetted [sic] the MP3 player market as a key to growth but has found it difficult to match Apple's iconic iPod which dominates sales in the crucial US market.
At 10:45 am (0245 GMT), shares of Creative were trading at 8.70 Singapore dollars (5.54 US) each, up five cents from its close on Tuesday. Financial markets in Singapore were closed Wednesday for a public holiday.
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Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha ................. Ha Ha Ha ........... Thanks for posting this ! The Zen and Creative are a POS, a few months back talking big how they were going to take on the ipod, with a cheap copy.
LOL
Kiss it goodbye.
Goodness. They should just really give up trying to take on the ipod.
The only thing that hurts Apple is Apple. They lost the early PC wars because of their own hubris and sh*tty marketing. They were ahead of their time with the Newton.
But they've nailed pretty much every single item since then.
The rest of the field is just going to have to wait until Apple screws up.
In fact, I have two Creative's. I own a Zen Micro too. I wouldn't own an iPod if it were given to me.
Correction: I would own it long enough to get it onto eBay.
What is really hurting Creative is that so many computer now have built in sound that is as good or better than most people need.
Their isn't much need for the normal person to buy a Creative sound card anymore.
And so Microsoft prepared the Zune, and the first victim was Creative.
Couldn't happen to a crappier company.
If I had my choice, I would have bought a Creative. Given that this is the fourth time I'll be sending in my ipod for service, I get a new video ipod. I'm so over trinkets now.
I wish I had your strength. I luv m'toys.
I hear it's a guy thing...but I don't buy it.
I'm sure if I had more funds, I would never tire of buying computers, handheld, laptop and otherwise. I just love little computer gadgets. I'll be picking the addiction back up at a later date. It's not a guy thing imho. It's an available money thing :D
I agree. I love nifty gadgets. Wherever I go, my iPod goes. I think I want to get a Blackberry to play with when I get home, too.
Me too. I love buying them, using them, breaking them, fixing them and selling them to get cash for my next toy.
I've tinkered with them since I was old enogh to identify a Philips head from a single slot screw-stick.
My family calls me Electronics Man. Everybody I know comes to me when a gadget is busticated.
The most fun I have is setting my sights on a particular model of whatever piece of electronic buggery-jiggery that I must have next...finding the best buy on eBay for the entry model of its type and then buying, fixing up and selling..in a series of transactions...until I procure sufficient funds to buy the jewel that I must possess.
I've done this with everything from police scanners to digital cameras to Ham radio equipment. It's a good way to get in for short money and work your way up to the top without laying out a huge sum at the outset.
Ditto.
--Boris
1. You need the finicky iTunes software to copy music/audio files to the iPod.
2. Some of the controls on the iPod Nano can be confusing to users.
3. You can't change the battery on the iPod, so if the battery charge runs down you're out of luck.
4. iPod Nanos are notorious for being easily scratched and that's why many retailers throw in a protective cover for free.
5. iPod Nano's aren't cheap--even the 1 GB model costs US$150 at most retailers.
That's why I got a Creative Zen Nano Plus 512 MB instead for US$40. The Zen Nano Plus is physically very small, uses easily-replaceable AAA batteries, and works closely with Windows Explorer and Windows Media Player 10 to copy files to the player.
I agree with you on the iPod vs Zen Micro. I had a mini first and it was a piece of crap. I gave it away and bought the Zen micro. Not a bit of trouble. I have a co-worker who bought a mini on August 18th, 2005. Not only does Aplle no longer make it, but it died and when she tried to get it fixed, not only is it a week after the warranty ran out, but they want to charge her over $200 to repair it. I'll never buy another product by Apple again.
Always nice to hear from someone else who refuses to line up to drink the Kool-Aid.
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