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OCZ files for bankruptcy - Toshiba offers to buy the assets

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MightyJordan    4,893

 

OCZ has just issued a press release announcing their filing for bankruptcy, which was expected since Nasdaq had halted the trading of OCZ stock earlier today. OCZ has had financial issues for quite a long time and it was just a matter of time before the inevitable happened. While OCZ did try to change its course by reforming their product portfolio when Ryan Petersen, the former CEO of OCZ, stepped down, it seems that the efforts weren't enough to make the business profitable.

 
OCZ leaves behind a noticeable amount of assets, most importantly its engineering teams in California, South Korea and Great Britain thanks to the prior acquisitions of PLX and Indilinx. Toshiba has already offered to buy OCZ's assets but currently there is no certainty on whether the deal will be completed. Toshiba's offer is, as expected, subject to various conditions such as retention of the employees because it obviously makes no sense to buy the assets unless Toshiba also gets the immaterial capital that is integrated into the employees. We'll have to wait and see how the deal turns out but at this point I recommend not buying any OCZ products because there is no guarantee that warranties will be honored.
 
It's sad to see OCZ going because they've been one of the pioneers in the consumer SSD industry. They were one of the most active companies when we started to see the first consumer SSDs in 2008/2009 but OCZ lost a ton of sales once Samsung and other major OEMs began to take the consumer SSD market seriously. It's hard to say what ultimately killed OCZ without knowing their exact cost structure but I believe it was a combination of bad strategy (too many products and high production volumes) and engineering choices (low reliability) along with other things. 
 
What happens to OCZ now depends on the completion of the Toshiba deal. Even if Toshiba completes the purchase of OCZ's assets, I doubt we'll see the OCZ brand anymore. OCZ's brand image took a hit with the low reliability, so I doubt Toshiba will see the OCZ brand adding any value to its products. I do hope that the deal goes through because OCZ's Indilinx Barefoot 3 platform has a lot of potential and it would be lamentable to see all that hard work to be flushed down the toilet.

Source: Nasdaq

http://www.anandtech.com/show/7549/ocz-files-for-bancrupty-toshiba-offers-to-buy-the-assets

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+fusi0n    1,569

Not surprised.. About 2 out of 10 SSDs I would put in our laptops at work would die within a week.. 

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Sem XL    28

Sandforce killed OCZ imo

 

dont know why sandforce doesn't get any stick for the whole mess everyone seems to blame OCZ but it wasnt entirely their fault other manufactures who used sandforce controllers had problems too

 

even intel

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Roger H.    773

Got a 120GB SSD for $50 or so which i stuck in my MicroServer just for the OS. Don't need more than that. As long as it keeps on trucking for at least a few years (2-3 would be good) then i wont care much about this. My Kingston SSD has been beaten for the past 3yrs too and still keeps on trucking as well.

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Knife Party    630

so glad I never go their ssd's... sad tho. RIP

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Brandon H    1,483

sad

 

their Vertex 4 SSDs are excellent

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Javik    3,977

Shame, their drives got a lot better once they started using Indilinx Barefoot controllers.

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MorganX    1,046

Not surprised.. About 2 out of 10 SSDs I would put in our laptops at work would die within a week.. 

 

That has been my experience as well. Samsung 840 Pro and now EVO! If I give up 1G of system RAM the EVO goes Read Crazy, lol.

 

Having said that, if I find a Vector on a fire sale I might just take a risk.

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+Chicane-UK    669

I had an OCZ Agility III and it was a superb SSD - really surprised by this! :( 

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]SK[    109

I had an OCZ Agility III and it was a superb SSD - really surprised by this! :(

 

Using one now. Been a great drive for the time I have had it.

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Astra.Xtreme    2,135

Sandforce killed OCZ imo

 

dont know why sandforce doesn't get any stick for the whole mess everyone seems to blame OCZ but it wasnt entirely their fault other manufactures who used sandforce controllers had problems too

 

even intel

This exactly.  The Vertex 2 was horribly plagued with issues that rooted from the Sandforce controller, and they were forced to honor a lot of warranties.  It wasn't ridiculous, but something like 5% failures, which isn't good.

 

I'm sad to see them go since I've used only their drives since the first Vertex.  Never had a single failure and the performance has been top notch.  The Vertex 4 and Vector are arguably the fastest SSDs on the market (yep even above the 840 Pro).

 

Hopefully Samsung doesn't raise their prices out the roof since they really won't have any competition anymore.

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+Chicane-UK    669

Using one now. Been a great drive for the time I have had it.

 

Likewise - only sold mine due to jumping from PC to a Macintosh, but I had zero problems with my OCZ SSD and it absolutely flew! 

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RadishTM    288

Not surprised.

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n_K    1,664

So... Everyones warranty just expired?

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primexx    372

I still have OCZ RAM that I got just before they discontinued it. But their SSDs never were marketed on reliability so meh.

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Denis W.    723

Can't speak for OCZ SSDs besides what was mentioned above, but I found it interesting how some OCZ memory sticks would be discounted at 75% when the local computer shops have sales. Getting two bad pairs in a row for my desktop was enough to explain why.

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neoraptor    36

have a vertex2, health is still 100% and still like it

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TomJones    0

OCZ's problems go back further than SSDs.  They also lost money on DRAM.

 

The company played accounting games to avoid showing how disastrous their finances were.  They just kept digging themselves deeper and deeper into the hole, until finally, they went bankrupt.

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Dot Matrix    7,164

Have had no issues with any of my OCZ RAM. Damn. That stinks.  :/

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Nagisan    248

Not surprised, they deserve it IMO. Granted my current SSD is an OCZ that is a few years old now (and still working), the one I originally purchased failed within 6 months, the first replacement they sent was DOA, the second replacement they sent was also DOA, the third one they sent finally worked and is still running today.

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f0rk_b0mb    698

I've had OCZ ram, power supplies, and 2 ssds. One SSD failed within a month, I RMA'd it and got a new one. No problems so far with it. RIP OCZ. :(

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chrisj1968    1,416

Good news since I'm a strict Toshiba user

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HoochieMamma    529

Good, I have literally hundreds of SSDs in a pile here at work. Vertex 2s, Core 3, Vertex Plus, all broken and no data recovery can be done as they don't even power on.

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Phouchg    2,050

I sincerely hope someone takes over. It'll be a hell if warranties will be cut. Toshiba might buy and even honor SSD part (just as Seagate honors Samsung warranties), but how about the rest of the stuff? One allegeldy problematic OCZ ZT arrived just yesterday.

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Praetor    987

RIP OCZ, bad management and lack of PR to change the bad view people had because of Sandforce controllers that turned good SSD into crap. :/

Also don't forget that one less competitor in this business means prices are going up for the rest of the others :(

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