Gigabyte Technology Company is facing backlash after the organization released a comment mocking the quality of Chinese-made products. On the firm’s website, a post was published that claimed it differed from other unnamed brands that chose to outsource to Chinese manufacturers in a “low-cost, low-quality way.”
These comments caused Gigabyte to suffer a drop in stock prices. Shares of the stock dropped roughly 10% on May 12th in Taipei. Since the comment was made, the company has reportedly lost $550 million in market value.
An apology was posted to the official Weibo account of Gigabyte esports. The organization said the comments that were made were false and were the product of an inter-management mistake.
(All information was provided by Yahoo! Finance and The Global Times)
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