What you need to know
- Streamview GmbH, the European operator licensed for Thomson streaming devices, has filed for bankruptcy just weeks after launching new hardware.
- The company owes €36.6 million and is not attempting a bailout, meaning operations, sales and distribution across Europe have effectively ceased.
- Streamview’s collapse was reportedly caused by a break in relations with its sole Chinese supplier.
Just two weeks after releasing a new streaming dongle, the company behind Thomson TV and Google TV boxes are destroyed.
Streamview GmbH, the Austrian company that holds the European license for Thomson, has filed for bankruptcy, according to a report. avciser. Austria says the company is owed €36.6 million ($42 million) Alpine Creditors Association. Streamview is not seeking a rescue deal or restructuring plan and will cease operations.
What happened? Streamview did not make products itself. Instead, it partnered with brands that sold Nokia, and later Thomson-branded TVs. Streaming sticks and set-top boxes across Europe.
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The company depended on a Chinese supplier and financing partner. When that relationship ended and advance payment for delivery was required, Streamview’s cash flow immediately dried up. Efforts to find new investors were not successful.
Hardware is in limbo
This is a real loss for those who prefer affordable options. Thomson found a good niche in the market, especially after Google stopped making its Chromecast devices. The company sold products from rebranded The 4K Pro box at Walmart (as the Thomson Streaming Box Plus 270) has been repurposed into a dongle the size of the original Chromecast.
Last month, Thomson launched the Google TV Streaming Box 245 (4K), which could compete with the Nvidia Shield. Earlier in April, it released the GoCast 152, which featured a more powerful chipset.
Existing stock will likely sell out quickly, but you won’t be left without support. The owner of the Thomson brand, an American company called Established Inc. Is said to be still in business. The company says it is looking for a new European partner Promises To continue providing after sales support for existing equipment during exploration.
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In my view, this situation shows why the ‘rent-a-brand’ business model can be a problem for people buying technology. These licensed deals may offer cheap hardware with a well-known name, but you end up with a product that has no clear identity. If the middle company fails, buyers are left with a ‘smart’ device that can quickly become a security risk.
Is this the end of Thomson’s Google TV hardware? If Established finds a new partner soon, these boxes may return under new management. However, don’t expect the Streaming Box 260 Pro, which was supposed to compete with other Google TV streamers and feature an Amlogic processor, 4GB of RAM, and 64GB of storage.
For now, if you see a Thomson streaming stick in stores, buy it while you get the chance. Stay tuned to see who takes the license and whether the brand gets a fresh start or fades away.
