i-mate going private

We’ve almost missed this one, but since it’s important, we’re running it nonetheless.

Apparently, while HTC’s marketshare and profits are rising, things are not going that smoothly for the Windows Mobile smartphone maker – i-mate. Recently, the company’s CEO Jim Morrison stated that they plan to have the company de-listed from London’s AIM stock exchange and effectively make it privately owned. This move will save i-mate some $2 million in listing expenses.

Back in March, i-mate laid off most of its U.S. staff in an effort to cut costs and the company recently reported a loss of $10.8 million for the prior 6 month period. The U.S. offices were established as part of a planned assault on the North American market that never materialized…

[Via: MobileBurn]