In 2006, Singapore-based Creative Technology Ltd sued Apple Inc for patent infringement over a menu interface for an MP3 player. It was an epic corporate story of David versus Goliath and pitted Singapore entrepreneur, Sim Wong Hoo squarely against the late Steve Jobs.
But the outcome was beyond what most people had expected. In fact, Apple had actually agreed to pay Creative Technology Ltd a massive USD100 million to settle the suit.
The battle against Apple marked a turning point for Creative Technology, which at that point of time, had been searching for another holy grail to replace its blockbuster SoundBlaster audio systems. More than a decade has gone since the legal dispute, but Creative Technology is no longer the force it used to be. Although it has won the corporate battle, the business had declined to an almost unbelievable level.
Sales for the fiscal year 2005 was at a peak of USD 1.2 billion but by fiscal 2016, the sales amounted to only a paltry of USD 84.5 million. That was a massive decline by any standard and something must [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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