The company’s downward spiral is an inevitable result of its adherence to an IBM standard Token Ring networking technology that was shunned by the rest of the industry. In a bid to get into growth markets, it launched a range of WLAN products in May 2002 but this belated move took it into areas dominated by giants such as Cisco Systems Inc.
In its last financial year to December 31, Madge made a loss of 2.3m, down from income of $18.5m on revenue that dropped 118.9% to $34.2m.
Source: Computerwire
