Marbridge Daily

<- January 05, 2012 ->

Netac on Temporary Suspension

21st Century Business Herald, 1/05/12

According to an announcement from Shenzhen-based USB solutions developer and supplier Netac Technology (300042.SZ), the company will disclose materials related to the recent suspension of trading in the company's stock. According to further information in the announcement, trading in the company's stock should resume after the materials are disclosed.

Regarding reasons for the company's temporary suspension of trading, a former executive with Netac believes that it could be a marketing ploy related to the company's cloud storage business, in attempts to find new investors. Concerning prospects for cloud storage, Zhang Jin, an analyst with IT research and analysis firm Gartner, pointed out that profits remain low for Chinese domestic mobile storage products. Domestic firms are only able to maintain their market share by continually lowering prices. As a result, prospects are grim for the entire sector.

 

Keywords:  hardware  storage  Netac  USB  300042.SZ  Zhang Jin 

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