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Newer Technology

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Newer Technology is a brand of upgrade products that previously led the Macintosh market, and now focuses on iPhone and iPad accessories.

History[]

Newer Technology's original parent company, Spectrum Engineering, Inc., was founded in October 1984 by James Wiebe and Phil Neufeld in Wichita, Kansas as a memory supplier for the PC marketplace. Its Newer brand entered the Mac marketplace in 1987.[1][2] The company reported US$15 million in sales in 1993, $28 million in 1994, and then $39 million in 1995, netting a profit of $555,888 for that year. However, sales slid to $35 million in 1996, causing the company to take a loss of $3.7 million.[3] That summer, the company was formally renamed Newer Technology, Inc. and split itself into two divisions: NewerRAM to focus on the computer memory market and NewerTECH to focus on the performance upgrade market.[1]

Bankruptcies and reorganization[]

The collapse of memory prices in spring 1996 had negatively impacted Newer Technology's business and the company filed for Chapter 11 bankruptcy protection on June 6, 1996.[3] Sales in 1997 were estimated at $47 million.[3] Though Newer had at one point been the market leader in Mac upgrades, the company was closed for Chapter 7 bankruptcy liquidation in January 2001. Some former engineers in Wichita were hired by PowerLogix.[4] Former VP of operations Rick Estes acquired Newer Technology's assets from the bankruptcy court and re-established the company as Newer Systems Technology.[5] On May 29, 2002, Other World Computing (OWC) became the exclusive distributor of all products from Newer, which continued to operate as a brand of OWC.[6]

References[]

  1. ↑ 1.0 1.1 NewerTECH: Company History, Newer Technology. Archived 1996-11-12.
  2. ↑ James Wiebe: President / CEO, Newer Technology. 1996-11-12.
  3. ↑ 3.0 3.1 3.2 Newer Technology amends plan by David Dinell, Wichita Business Journal. 1997-02-23.
  4. ↑ Austin high-tech firm capitalizes on Newer's closing by Jerry Siebenmark, Wichita Business Journal. 2001-04-29.
  5. ↑ OWC to be exclusive distributor for Newer hardware by Peter Cohen, MacCentral, Macworld. 2002-05-28. Archived 2002-12-21.
  6. ↑ OWC and Newer Systems Technology Strike Distribution Agreement by MacOSX.org, Other World Computing. 2002-05-29.

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