Feeds

Apple foe Proview laughs off debts, ressurrects business

IPAD trademark combatant wants to sell bio-energy

Seven Steps to Software Security

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. ®

Boost IT visibility and business value

More from The Register

next story
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
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
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
Price cuts, new features coming for Office 365 small biz customers
New plans for companies with up to 300 staff to launch in fall
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.