Their bank(s) forced them to fire their CEO and appoint a chief restructuring officer. They are in deep trouble and could be sold or go bankrupt in a matter of days.
To me it looks like a company that squandered away a great opportunity.For me this looks like "things are going back to normal" (pre corona times) with some growth at the end 2019/q1 2020 (sonys ps5 announcement and probably a gt release?)
Ok I will wait for my wheel, already bought the WheelStand 2.0 and can´t wait to drive the first rounds with the DD+ since it will be my first direct drive wheel.
And maybe some of the hardware problems and not supported games you mentioned are getting better with the next firmware updates. Would be nice to play some older games too on the PS5.
Agreed. I think they definitely have passion and a good R&D department, but the management doesn’t really know how to run the business on a global scale, and their overall operation is a big mess.
Games that aren't supported have nothing to do with the firmware. It's strictly up to the game developers to ensure compatibility.Ok I will wait for my wheel, already bought the WheelStand 2.0 and can´t wait to drive the first rounds with the DD+ since it will be my first direct drive wheel.
Grüße aus dem Saarland !
I was thinking same thing actually.. "covid bump" leveling out. It looks like that, bit I'm sure it's not that simple. I really don't think that the company will fold or anything like that though. Things couldn't go on the way they were so this shake-up is probably going to be good for customers in the long run. 🤞 Let's hope anyways.For me this looks like "things are going back to normal" (pre corona times) with some growth at the end 2019/q1 2020 (sonys ps5 announcement and probably a gt release?
Fanatec is not the first Company and definitely won't be the last going through some rough times.
Dude, the CEO literally had to fire himself or they would have been forced to declare bankruptcy. Not being able to pay their loans is the opposite of "financially in good shape".
Ha ha. Nice to connect a username to another username.
Well established brands most certainly do disappear? That's an insanely common thing to happen.
Maurice has a bad habit of speaking in absolutes. While being wrong. Here's his answer from March 6 on Fanatec's forum to a customer disappointed with his $400 "Xbox compatible" wheel rim still not being fully supported (basically, half of the rim's features don't work on Xbox):
Maurice
Like Kodak, Blockbuster and Polaroid?
From my understanding, if the CRO believes declaring bankruptcy will recoup more of the creditors money (perhaps Fanatec's countless sponsorship agreements are deemed too expensive to continue, or even withdraw from) that's what they'll do - the banks want their money back, whether Endor/Fanatec survives or not. They couldn't care less about your firmware updates and warranties.
These two comments are connected. What is the difference between Fanatec and the companies you listed? Fanatec's business has just broken into mainstream and is booming, volume-wise. All the other companies had their whole business vanish from underneath them.
We are going to have to agree to disagree. To me, my scenario is not wishful thinking but indeed is based on the actual information publicly available. Your thinking appears to me as negative hyperbole, which is not difficult to find when it comes to Fanatec. And I'm not defending them at all, they very much have brought it on themselves. But for actual purchasing advice, I don't think hyperbole is the way to go. Reasons for not purchasing Fanatec at the moment would include severe logistics and customer service shortcomings, advertising features that are not available and might not be for a long time, extremely difficult RMA situation and such. Imminent bankruptcy is not on that list. Fanatec's financial situation isn't catastrophic, and the steps taken by their financers are communicating their trust in the company being able to sort out the problems and start making profit. Endor's earnings guidance for 2024 is in fact estimating that to happen this year.
I hope they do as well. I have a lot invested into their eco-system because I really do like their stuff. Prior to 2012, I thought their brand was crap, but their Club Sport V1.0 then subsequent 2.0 changed that perception for me. For PlayStation, there are other options, but none are as robust IMO. Plus, you can take your FANATEC gear and move onto PC without any more investment. I was a hardcore Logitech user until 2012 when I first purchased my Club Sport V1.0 Belt Drive base then 2.0, then GT DD Pro and now their latest DD+, which is going back once I get a response with the needed RMA procedure. (It's been over 3 weeks since I opened the ticket, which by current wait times...is going to be at least another 3 weeks for a response. My Buddy opened a tick in early FEB, and just now got a response.)
You keep arguing a point I've never made, namely that Endor is definitely going bankrupt. That's a straw man.
I always assumed he worked for Fanatec. The amount of verbal abuse he takes over there on the Fanatec forum is disgusting and he's nothing but helpful and polite. Hopefully they're at least paying him for his work, "employee" or not.
Definitely, He's great. I can't believe he's not a full time employee, it blows my mind. That's the kind of helpfulness and customer support they're in dire need of at Fanatec. Who knows maybe he's happy with their arrangement, whatever it may be.
fanatec.com
