Some of you may remember the Gizmondo, a portable gaming console announced in 2005 that was positioned as a competitor to the Sony PSP and Nintendo DS. Tiger Telematics, the company which produced it, was headed by a couple of Swedes who eventually left the firm just before it went bankrupt in early 2006. It's an incredible tale involving a crashed Ferrari Enzo, dealings with the Mafia, and millions of dollars of investor funds going down the drain.
Now it looks like Carl Freer, Gizmondo's former chairman, wants to revive the brand. In an interview with a Swedish publication, he revealed that the next version of Gizmondo will be made inexpensive and work with open source codes. He went so far as to say that there will be a new widescreen device by Christmas 2008.
According to the interview (translated version here), Freer is doing it because he "still believes that Gizmondo can stand up to the competition, and in order to give the investors who lost money in the Gizmondo crash a chance to get some of their money back."
Wow. All we can say is he's going to have a hard time finding any investors. And we won't be holding our breath for a new Gizmondo. For those who want to try out one of the originals, you can still get a Gizmondo on eBay.
(Source: Crave Asia)