April 14, 2009, 9:54 PM — Struggling to stay afloat during the recession, ultramobile PC maker OQO is seeking buyers, a company spokesperson said on Tuesday.
OQO, which is based in San Francisco, is well-known for its innovative PC designs and in the past has received accolades for its products. However, its offerings have struggled to find buyers because of the high prices.
Rumors of OQO seeking a buy-out was first confirmed by The Wall Street Journal on Tuesday.
The company is having cash problems and views a buy-out as the best way to solve its troubles and make OQO more competitive, according to the news report.
A company spokeswoman confirmed details in the report, but declined further comment.
Rumors of OQO being on the block spread after a poster on the enthusiast site Oqotalk.com suggested the company was having financial difficulties.
"OQO is attempting to sell the company. It lacks the funds to keep going, cash is tight and work hours have been reduced," said a poster named Picasso, listed as a moderator in the OQOtalk forums.
The rumors gained steam after a U.K. retailer reportedly pulled an upcoming OQO product off shelves "due to uncertainties to stock availability" of the upcoming Model 2+ ultramobile PC, according to posting on JkOnTheRun blog.
OQO in January announced the Model 2+ design, which can deliver a full PC performance in a tiny footprint. The computer includes an OLED (organic light-emitting diode) screen and weighs only 1 pound (0.45 kilograms). The product was received with considerable fanfare at the Consumer Electronics Show in January.
The company's cash shortage could delay the delivery of Model 2+, said Bob Rosin, OQO's senior vice president of sales and marketing told with The Wall Street Journal.
But posters on the OQOTalk have doubts about the product ever reaching the market.
"I'm sorry to say this, but the [Model] 2+ might be the last OQO we see made. I don't even think we will see it." Picasso wrote.
