5 Tech Companies That Went Bust in Spectacular Fashion

Over the years, many tech company have come and gone. Bankruptcy and inability to keep up with the steady changing market are among various reasons these tech start-ups hit the rocks. We have listed some of the tech companies that went into oblivion the past years. 

Compaq 

Launched in 1982, Compaq was a tech company founded with the focus of building and selling computers and other tech products. In the 1990s it was a large supplier of computers. It struggled to compete with other tech giants, Dell and HP. It was bought by HP in 2002 and used to release low-end computers until it was shut down in 2013.

3DFX Interactive

3DFX Interactive was a household name in the gaming industry. It was founded to develop 3D processing units. They eventually manufactured some of the most popular graphic processing units such as Voodoo and Voodoo 2. 3DFX Interactive went bankrupt in 2002 after it was acquired by Nvidia.

Kodak

Kodak is one of the oldest tech companies in the world that went under. It was founded in 1888 and was a popular name in the photography industry. The tech company suffered in the 1990s, and after several failed attempts to keep up, it went bankrupt. 

Nokia

Founded in Finland, Nokia was the first tech company to build a cellular network in the world. In the 2000s, Nokia was a leader in mobile phone manufacturing. During the era of internet advancement, Nokia failed to adapt to the change. Eventually, they decided to manufacture Android phones, but it was already too late then. They went bankrupt. 

Blockbuster

Blockbuster is a video rental company. It is one of the companies that disappeared because of their inability to change their business model to conform to the modern’s. After failing to innovate into a market that allows for delivery, they went into bankruptcy in 2010. At one time, Netflix proposed to partner with Netflix, but their offer was turned down. Now Netflix is a multi-billion dollar company while Blockbuster is gone. 

Above are some tech companies that went burst in spectacular fashion. The tech industry is an industry with lots of competitions. You may lose your foot holding and go bankrupt if you are not able to compete. It is quite unfortunate that the companies mentioned above have gone bankrupt. Some of them have been acquired by other bigger companies. But don’t fret, if you want to read some stories of success, check out this list of self-made billionaires.