[opendtv] Apex's Fast Rise May Be Checked by CEO's Arrest
- From: Monty Solomon <monty@xxxxxxxxxx>
- To: undisclosed-recipient: ;
- Date: Mon, 3 Jan 2005 08:26:53 -0500
Apex's Fast Rise May Be Checked by CEO's Arrest
The company lowered prices of consumer electronics but raised the ire
of some rivals.
By Jon Healey and Alex Pham
Times Staff Writers
January 3, 2005
Apex Digital Inc. disrupted the consumer electronics industry by
pushing prices lower than its powerhouse rivals dared.
Now the Ontario company faces a major disruption of its own.
Last week, Chinese police arrested Apex's founder and chief
executive, David Longfen Ji, on undisclosed charges. Chinese
manufacturer Sichuan Changhong Electric Appliance Co. had alleged in
a U.S. lawsuit that it was owed hundreds of millions of dollars for
television sets it made under the Apex brand. And Taiwanese DVD maker
Genius Co. said it was owed $4.3 million by Apex.
Chinese authorities refused to comment on Ji's arrest. Apex
spokeswoman Marietta Schoenherz said Ji planned to return to the
United States to attend the company's presentation at this week's
International Consumer Electronics Show in Las Vegas. She declined to
elaborate.
Although hardly a household name, Apex has made an imprint on the
$100-billion consumer electronics industry. The company helped drive
down retail prices and showed upstarts how to grab market share from
established brands without building factories of their own.
...
http://www.latimes.com/business/la-fi-apex3jan03,1,478249.story
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