Netgear has killed off Meural, an ill-fated product that was designed to generate subscriptions from a digital picture frame similar to what Samsung has done in the past via their Frame TV.
Quietly and without any announcements the struggling networking Company allocated restructuring charges in their latest financials for the dumping of their Meural that was being sold in Australia by various retailers for around $1,000.
In announcing the death of the 21″ Meural Netgear management admitted that it only had “A small target market and does not fit well” with the rest of their portfolio of network products. Subscriptions were also expensive.
The current plan is to sell through their remaining inventory and to continue to maintain the service for our subscribers in an effort to hold onto trailing revenues. What’s not known is whether they will deliver any new art for these customers.
Netgear claim that they partnered with some of the world’s leading image collections to deliver “dynamic, ever-evolving art” to their ill-fated display screen.
Recently the business wrote approximately A$759,000 of non-finished goods inventory.
Overall, the business is looking at a cost of approximately A$3.8 million to wind down the business.
