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SanDisk who are currently bleeding losses has gagged local management in Australia from commenting on the Company’s performance in Australia.

SanDisk who are currently bleeding losses has gagged local management in Australia from commenting on the Company’s performance in Australia.

 

Josh Velling, a former senior manager at Ingram Micro and now Country Manager for SanDisk admitted today that he could no longer comment on SanDisk issues in Australia. Speaking at the PMA professional photographers show in Sydney where SanDisk launched a new 32GB SD card Veilling was asked why he was no longer able to return calls on local SanDisk issues.

 

He said “We have a new PR Company and I simply cannot comment. You will have to talk to SanDisk executives from Singapore. I am not allowed to comment anymore.”

 

Earlier in the week SanDisk PR executives said that any interviews with SanDisk executives had to be done face to face and that telephone interviews were out. They later had a change of mind and offered interviews with Singapore based executives.

 

The once high flying memory Company is struggling to compete up against the likes of Samsung who late last year made a takeover offer for the Company.

 

 

In their latest financial report SanDisk said that revenue had declined 22% to US$659 million and that losses were now running at $260 Million. Between November 2008 and this week SanDisk shares have fluctuated between US$22.52 and $5.2

 

In the aftermath of Samsung’s $5.8 billion bid for the flash memory the Company has struggled up against the likes of the Korean manufacturer who is the biggest component supplier of NAND memory for Apple iPods as well as over $100M dollars worth of memory for the new iPhone’s and iPod touch devices.

 

hat’s not to say that SanDisk doesn’t need help. It is a laggard in the growing market for solid-state drives–where Samsung is currently the leader–and has been caught in a brutal downward spiral of flash memory prices.
As SanDisk’s profits have been squeezed, its stock has plunged over $60 per share over the last two years.

All this makes for a vulnerable takeover target. SanDisk’s chairman and CEO, Eli Harari, said earlier this week that the $26-a-share bid from Samsung was “opportunistically timed at the trough of an industry-wide downturn.”

 

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