Gizmondo Europe Folds

Gizmodo is hardly the type to gloat, but with regard to the news that handheld game maker Gizmondo Europe has gone into liquidation, we'd just thought we'd say this one thing: One-and-a-half years ago, we so called it.

Granted, anyone with the slightest ability to speculate the future of a company that threw itself against both Sony and Nintendo simultaneously could have called it, too. Guess nobody wanted a half-baked gaming machine with crappy games, no business model, and hardware that was designed to help parents track down their kids via GPS.

Even more amusingly, we had drinks with a man at CES who told us that he had shorted Gizmondo's stock after our initial reports, making upwards of $800,000 as the company crashed and burned. It just goes to show that even something as poorly conceived as the Gizmondo can still bring happiness—when it dies.

Fortunately, parent company Tiger Telematics is attempting to buy the assets of Gizmondo Europe, so we may get to experience joy twice over when they fail utterly, as well.

Court hands Gizmondo Europe to liquidators [RegHar]