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The history and closure of Corporation of Coby Electronics

The corporation of Coby Electronics was a manufacturer from America for the products of consumer electronics. Its headquarters are in Lake Success, New York. The Coby Co. in Hong Kong and that in the United States made joint efforts to provide the products in different areas of Asia, Europe, North America, etc. Most of the products were such that they were sold in America and Europe. Coby has also a service as a manufacturer of OEM for a lot of different brands that include Samsung, Hyundai, etc. The doors of Coby were supposed to be closed in the year of 2013 in the month of June. They had to do so because of financial problems. Some of the assets were acquired by Gordon Brothers Group that the Coby Electronics owned. It’s been sure that the Gordon Brothers Group was not supposed to be purchasing the different liabilities like customer warranties, etc.

History of Coby Corporation

The corporation of Coby was founded by a person named Dong Lee. The case was such that Dong Lee owned all of its capital stock, i.e. 100% of it. The logo was supposed to be written in the old style of Bookman and it’s been bold. It resembles the logo of Sony, i.e. the serif font of it. Originally the headquarters of the company were in Queens; basically an industrial area of Queens called Maspeth. Then

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Coby 

the headquarters moved to New York in the year 2008. The headquarters which were the former ones became the warehouse of the company. In the year of 2006, a new factory was established and also a new process for manufacturing. With this the company became able to brand itself again publicly with the impression of a maker of goods that are high in quality. After that the company gradually expanded and all.

Closure of the company

The company went out of business and all because of extremely big problems related to finance and all. There were different reasons for that and the downfall of the company was a must due to such issues that the company had to face.

 

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