i-mate’s woes continue as it announced that its finance director had resigned, triggering another stock sell-off.
Back in June, i-mate announced its first ever pre-tax loss as it dealt with the loss of HTC as its sole OEM. i-mate replaced HTC with three new suppliers (Inventec Corporation, Tech Faith Intelligent Handset Technology and Arima Communications Corporation). THe Herald article indicates that one of these partners failed to deliver but does not go into further details.
i-mate had earlier disclosed that it was dealing with insufficient stock and quality problems as its partners tried to keep up with orders.