Iconic Brands That No Longer Exist

Posted by Josh

Gizmondo

Gizmondo, not to be confused with the popular online tech news site, was a former potential competitor in the handheld console market to Nintendo and Sony. Launched in 2005, it was expected to do extremely well due to its high-end specs and capabilities as advertised.

Gizmondo

The company infamously spent millions in promotion and marketing before launch, but resulted in only 25,000 devices sold. The result was a business disaster, with the device being deemed by GamePro as “the worst selling handheld console in history.” This notwithstanding the executives having alleged ties to the Swedish mafia or having criminal pasts. They were forced to file for bankruptcy in 2006 with over $300 million in debt.