What Is the History of the Coby Electronics Corporation?


Quick Answer

The history of the Coby Electronics Corporation began with its establishment by Young Dong Lee as the sole owner of the company in 1990. At its inception, Coby Electronics Corporation focused on the development, manufacture and distribution of electronic products, such as MP3 players, CD players, USB drives, portable TVs and home theater DVD players. The company went out of business in June 2013 due to financial issues after contract disputes with its OEM clients.

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Full Answer

Coby Electronics Corporation manufactured its own products and performed OEM manufacturing for other electronic brands, such as Samsung, RadioShack, Hyundai and NEC. The company initially operated out of an industrial headquarters in Maspeth, New York but moved its headquarters to Lake Success, New York in 2008 and relegated its Maspeth location to a company warehouse.

Coby Electronics Corporation sold its products around the world through subsidiary companies, such as Coby Electronics Co. in Hong Kong, and its branch offices in Mexico and China. The company also operated a manufacturing facility in Jiangxi Province in China. Coby Electronics Corporation's financial problems arose primarily due to losing a lawsuit against Philips Electronics in March 2013 over unpaid licensing fees, and the company has since been sold to Gordon Brothers Group.

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