In Europe, Wang believes economic conditions have improved sufficiently to help GigaMedia improve its market share in France and beyond. In Asia, new products – such as a Flash-based version of the company’s Mahjong offering and a partnership with MTV on a SpongeBob SquarePants game – are in the works. The company also hopes to enter some new territories in the region.
But first, they need to fix China. GigaMedia is currently its litigation with the company’s former China head over his alleged “attempts to usurp company assets.” The company is keen to avoid being “adversely affected” by these illegal actions, but that ship appears to have sailed. In Q3 2010, GigaMedia posted revenues of $7.8m, a 28% drop over the previous quarter. For this, President/COO Thomas Hui blamed “deconsolidation of our China operations resulting from our ongoing legal dispute.” Unless the matter is favorably resolved, GigaMedia expects a “significant impairment charge” in Q4. And not the good kind of impaired, neither.