Uncertainty surrounds fate of i-mate in Dubai

Dubai: I-mate, the smartphone manufacturing company based in Dubai Internet City (DIC), has reportedly shut down.

On Thursday, the company's head office in DIC remained closed and its phones were not answered. Company officials were beyond reach despite repeated attempts by Gulf News.

On Thursday, ITP.net reported the company had shut down and its CEO James Morrison had left the country. The report was based on anonymous industry sources and has been backed up by the continued closure of the company's offices for one week, according to employees who spoke to the technology news website.

I-mate, formerly known as Carrier Devices M.E., floated 20 per cent of its £300 million (Dh1.8 billion) on the United Kingdom's Alternate Investment Market in May 2008.

In the past year, Morrison has repeatedly denied his company was going under. In November, 2008, i-mate delisted from the Alternative Investment Market (AIM), a trading floor with less regulatory requirements for small-cap stocks.

I-mate's chief told Gulf News in May 2008, his company intended to list its shares on the Dubai Financial Market (DFM) - an intention which never materialised.

Established in 2001, i-mate made quick inroads into the then lightly-competitive smartphone market as one of the first companies to adopt Microsoft's Windows Mobile technology. By the end of 2006, the company said it had sold more than 420,000 units.