Feeds

Apple foe Proview laughs off debts, ressurrects business

IPAD trademark combatant wants to sell bio-energy

Maximizing your infrastructure through virtualization

Apple’s Chinese IPAD trademark nemesis Proview is set to kick start yet another business venture, having managed to attract over 100 million yuan (£10m) in funding to launch an LED lighting and bio-energy firm.

The firm’s charismatic founder Yang Rongshan is hoping to reinvent the company after its Shenzhen subsidiary was forced into bankruptcy and delisted from the Hong Kong stock exchange a couple of years ago.

Miraculously, given the performance of Proview Technology (Shenzhen) and allegations of shady business practices in the past, Yang has successfully attracted Chinese and foreign investors to the project, according to Shanghai’s First Financial Daily (via Sina).

Yang is apparently aiming to resurrect the firm’s LED lighting business and, rather incongruously, enter the renewable energy space.

Proview invested a whopping $155m (£99m) in its LED manufacturing base in Shenzhen in 2008 and expanded to a Wuhan plant soon after, shortly before the bottom fell out of the business.

The Shenzhen plant is now in ruins, but Proview is hoping its Wuhan base can be resurrected to produce around five million LED units per year.

There was little info about the renewable energy plans for the business, except that Proview would co-operate with local investors and partners and expand internationally.

Confident as ever, Yang claimed the business would generating profits in a couple of quarters.

Followers of the long-running IPAD saga will remember that Proview Shenzhen still has debts potentially as high as $400m(£255m) to pay its creditors, including several Chinese banks, but Yang said this will not affect this entirely separate new business plan.

The firm’s lawyers Grandall are also among those yet to be paid, despite Proview managing to extract $60m from Apple for the IPAD name, and have made moves in court to seize the trademark until they are paid. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.