Slashdot Mirror

← Back to Stories (view on slashdot.org)

SSD Manufacturer OCZ Preparing For Bankruptcy

Posted by Soulskill on from the all-about-the-benjamins dept.

JDG1980 writes "OCZ, a manufacturer of solid-state drives, says it will file for bankruptcy. This move is being forced by Hercules Technology Growth Capital, which had lent $30 million to OCZ under terms that were later breached. The most likely outcome of this bankruptcy is that OCZ's assets (including the Indilinx controller IP) will be purchased by Toshiba. If this deal falls through, the company will be liquidated. No word yet on what a Toshiba purchase would mean in terms of warranty support for OCZ's notoriously unreliable drives."

3 of 182 comments (clear)

  1. STILL not accurate and STILL misquoted by slashmydots · · Score: 5, Informative

    Their drives don't have a high failure rate! They're not unreliable! It was all based on a single study that showed a high return rate. That was because the morons at OCZ released them with beta level firmware that made the first batch of 3 and 4 series drives not be recognized 100% of the time by many BIOSes. I built over 50 computers with OCZ SSDs and about 40 of them had to be flashed to the latest firmware before they operated correctly. After that, zero out of 50 came back in 2 years so that means zero failed. They used 9000 write cycle flash memory instead of, for example, Kingston HyperX 3K's 3000 rating. They had an internal, firmware-based TRIM style sweep in case your OS didn't support TRIM too. They were one of the best drives out there.
    Unfortunately, I hate them because they decided to "stop being competitive" and single handedly drove up the price of SSDs basically by price fixing. Their drives went up 50% in price overnight. That was such bullshit, they deserve bankruptcy.

    1. Re:STILL not accurate and STILL misquoted by iCEBaLM · · Score: 5, Informative

      But they're not incorrectly working 80% of the time, they're incorrectly working once, fixed, and then they work for the rest of the products life.

  2. Re:Warranties by ArbitraryName · · Score: 5, Informative

    Incorrect. Warranties are considered unsecured liabilities. Once the company files for (Chapter 7) bankruptcy they stop honoring warranties just like they stop paying debts. The company's assets are sold and creditors are repaid in a set order. Unsecured debts are absolutely dead last and are generally never paid (after all, if they could have paid them they wouldn't likely be filing bankruptcy. Assets sold in bankruptcy are free from any liens or claims. Toshiba would be under no obligation to warranty any OCZ products, as they would have simply purchased their assets.