NewEgg sold to the Chinese

[aspkin]

After September's reports of a significant investment from the Chinese company on Newegg, which would allow the California-based company to "accelerate the pursuit of the company's strategic initiatives" and into high-growth markets such as eSports, VR (Virtual Reality) and AR (Augmented Reality), it now appears that the investment was much more than a simple capital infusion: it was a bid towards controlling an effective majority in the American company's shares.

The deal, with a value estimated around 17.7 billion yuan (around 2.63 billion dollars; higher than some countries' GDP), will give Liaison Interactive control of 55.7% of the California-based company. As a result, Newegg thus becomes one of Liaison Interactive's subsidiaries.

The deal is expected to aid Liaison Interactive in bolstering its global competitiveness, allowing for a gigantic expansion into the American market. The company praised Newegg's recognizable brand and strong consumer confidence. Liaison Interactive expects Newegg to become an important part of the company's liquidity channel through its hardware and software offers, thus complementing the China-based company's product channels. As always, in the wake of this acquisition, changes are expected in Newegg's overall structure, in either its organization, personnel, business, financial and/or management fields.

NOOOooooooo!

[yotano211]

I guess I am not ordering from them anymore. Sucks I just ordered some ddr4 memory for the new business laptop this week.

[MM78]

Originally Posted by yotano211

I guess I am not ordering from them anymore. Sucks I just ordered some ddr4 memory for the new business laptop this week.

I had ordered an SSD drive for my new PC last year.....I eventually had to cancel my order after 2 months passed by and all i got was the run-around.

[yotano211]

Originally Posted by MM78

I had ordered an SSD drive for my new PC last year.....I eventually had to cancel my order after 2 months passed by and all i got was the run-around.

Why did you wait so long for a refund. If it doesnt ship within a week for me, I start asking for refund.

Did you pay with a credit card or where you able to get a refund in the end.

[glacier922]

Just ordered a gaming laptop, Lenovo computer from Newegg. Love it!

[MM78]

Originally Posted by yotano211

Why did you wait so long for a refund. If it doesnt ship within a week for me, I start asking for refund.

Did you pay with a credit card or where you able to get a refund in the end.

I wasn't in a huge hurry since I was still making up my mind over my Water Cooling System, ordered with a Debit Card, got a refund. Eventually I just went to Fry's Electronics.

[phaz0rz]

That's awesome. Good for newegg. 80% of their products are coming from China anyway so maybe by cutting out the middleman they will be able to offer lower prices. :D

I don't understand the opposition to Chinese investment.

[rsot]

Originally Posted by MM78

I had ordered an SSD drive for my new PC last year.....I eventually had to cancel my order after 2 months passed by and all i got was the run-around.

Crazy...I use ncix from time to time

[slokor]

I love NCIX.
The service I got from them the last couple of orders I placed with them was flawless.

[astralman]

Listen almost everything comes from china because cheap labor, I laugh at people with there iphones 700 dollars and really that piece of junk cost way less to make in some china factory, the united states lives off slaves in other countries, all those brands most of them made by slave labor. Nobody here is actually living within laws because you might live within united states laws, but the universal law of nobody a slave, which you participate in buying products, it's a sad world, so next time you think about why so many companies leave offshore to make products it should remind you without slave labor we wouldn't have products we have in todays age.

[glacier922]

^^^^

You should also take into consideration that the currency exchange rate, so the Chinese currency is 6.3 times more than the US dollar, so if Apple pays 2 US dollars per hour to unskilled laborers in China, it translates to 12.6 Chinese dollars per hour. That translates to a higher rate than workers at your local Best Buy, which translates to about 10 bucks an hour. No one works for free.

[rsot]

Smoke and mirrors

[astralman]

Originally Posted by glacier922

^^^^

You should also take into consideration that the currency exchange rate, so the Chinese currency is 6.3 times more than the US dollar, so if Apple pays 2 US dollars per hour to unskilled laborers in China, it translates to 12.6 Chinese dollars per hour. That translates to a higher rate than workers at your local Best Buy, which translates to about 10 bucks an hour. No one works for free.

Umm, creating a product for like 20 dollars in some foreign country and bring it to make to sell it for like $700? (I'm giving an example - i know it doesn't cost 20 dollars to make the iphone, but I know it doesn't cost that much at retail price in america) Um, ok hello? Not worth it, hey business is business not hating on apple, but not I'm not going to be part of the dumb sheep, goodluck.

[glacier922]

^^^

I was not telling you to continue to buy iPhone products or buy Apple products in general. I was just saying that what you say as slave labor is not as slave as you think.

[Gamefreak]

at some point most US based companies will be partially owned by some chinese company..

they already make or assemble damn near everything we use might as well.

[BlackLion]

Idc how much they're being paid per hour. Being forced to work (happens on many occasions), being under aged, and the toll taken on the body MENTALLY & PHYSICALLY is the result of being a slave. I can only imagine how terrible it was during slavery here in the states, and the generational cycle of pain it has distributed.

[phaz0rz]

Who's being forced to work in China? The majority of China is starving because there's not enough work to go around. Working for a company like Foxconn or 3M in China is an honor for a Chinese citizen, because they're able to feed their family.

I talk to my Chinese supplier daily, lol. Just because China doesn't have an absurd minimum wage doesn't mean everyone working there is a slave.

[ad187]

Can't believe it was worth that much

[yankee]

Originally Posted by phaz0rz

Who's being forced to work in China? The majority of China is starving because there's not enough work to go around. Working for a company like Foxconn or 3M in China is an honor for a Chinese citizen, because they're able to feed their family.

I talk to my Chinese supplier daily, lol. Just because China doesn't have an absurd minimum wage doesn't mean everyone working there is a slave.

Minimum daily wages are actually not very low in China anymore. BUT like USA cost of food and transportation and housing goes up massively every year.

[empirestate]

Pretty soon the Chinese will buy everything...

[rsot]

Originally Posted by empirestate

Pretty soon the Chinese will buy everything...

You mean like this:



??

[BlackLion]

Originally Posted by rsot

You mean like this:



??

How you found that picture is beyond me