NTE Electronics Gone Tits Up?

[BlownUpCapacitor]

So I've heard that NTE has laid off all their staff and they nuked their website and shut down all phone lines.

Thought I might bring this to the forum.

Sources: https://audiokarma.org/forums/index.php?threads/nte-going-down.1049175/

https://groups.io/g/TekScopes/topic/ot_another_one_bites_the/108096904

There isn't a whole lot of information about this. Probably because it's quite recent.

It's not much, perhaps this is all a hoax, but if this is true, wow.

Surprised there isn't a thread on the EEVBlog about this as far as I know.

Update: Seems to be confirmed

https://vetco.net/blog/is-nte-going-out-of-business-the-current-state-of-new-tone-electronics-nte/2024-09-11-14-39-26-0700

[watchmaker]

So I've heard that NTE has laid off all their staff and they nuked their website and shut down all phone lines.

Thought I might bring this to the forum.

Sources: https://audiokarma.org/forums/index.php?threads/nte-going-down.1049175/

https://groups.io/g/TekScopes/topic/ot_another_one_bites_the/108096904

There isn't a whole lot of information about this. Probably because it's quite recent.

It's not much, perhaps this is all a hoax, but if this is true, wow.

Surprised there isn't a thread on the EEVBlog about this as far as I know.

Nuts!  Just checked.  NTE QuickCross link to PDF is dead and the website returns 404.  Hopefully someone just forgot to pay the site fees.  Back to the paper book for now.

[fzabkar]

I was trying to access their site 2 days ago. This explains the crickets. Thanks.

[floobydust]

Their website has been dead for many days. I did not know the business cratered. DigiKey, Arrow just 404's those product pages as well.

Their big through-hole resistors, top quality Taiwan manufacturer. Would like to know their name.

ECG Sylvania was the source for semi's in consumer electronics - TV's, stereo etc.
Just crazy busy back to the 1980's I worked for a distributor selling them. You could not keep enough in stock, only source for Asian IC's.

The markup was just too high. then reverse-lookup books came out, showing the original part which people instead would order. Why buy an NTE159 when a 2N3906 is 1/10 the price. I think the times changed.

[coppercone2]

I like their high power metal oxide resistors!

[SiliconWizard]

Whatever happened, it looks quite sudden.

[coppercone2]

I wonder if the leadership is on the caymen islands under assumed names

[floobydust]

Bill Horstmann of NTE Electronics, Inc. also with Electro-Brand Consultants LLC but I could not make sense of the value there. Electro-brand might own NTE.

For NTE to get wiped from distributors means there was warning they were closing down.
Their pricing was Radio-Shack level on too many items.

[watchmaker]

Also explains why I found NTE lots of mixed value components NIP with prices stickers for under 1/5 the retail price.  Cog caps, transistors mostly, but someone knew.  I would expect a flood just like RS.7750

I loaded up on material when this happened in the 1990s with mechanical watches; SwatchUSA was throwing brand new 7750 movements into dumpsters.

[Electronicos Caldas]

Message from NTE employees:

" 𝗔𝗳𝘁𝗲𝗿 𝟰𝟬+ 𝗬𝗲𝗮𝗿𝘀 𝗼𝗳 𝗘𝘅𝗰𝗲𝗹𝗹𝗲𝗻𝗰𝗲, 𝗔 𝗦𝗶𝗻𝗰𝗲𝗿𝗲 𝗡𝗼𝘁𝗲 𝘁𝗼 𝗢𝘂𝗿 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆

For more than 40 years, NTE Electronics Inc thrived with quality products, off-the-shelf delivery, and remarkable growth, earning respect across the industry while maintaining profitability under strong leadership. It is with great sadness that we announce the closure of NTE Electronics Inc. Following the sale of the company in late 2022, the new ownership's negligence and mismanagement in the past two years has resulted in financial difficulties, forcing the company to cease operations.
We are deeply grateful to our dedicated employees, loyal customers, suppliers, representatives, and partners who have supported NTE Electronics Inc. for over four decades. It has been a privilege to serve you, and we sincerely apologize for any complications and disappointment we may have caused during these challenging times.
Thank you for your trust and continued support. "

Source: https://www.linkedin.com/company/nte-electronics-inc

[nctnico]

That sounds like a disgruntled employee venting on the company's Linkedin account 

[Bud]

Who it was sold to?

[floobydust]

Have to wonder - sinking a business can be an MBA strategic move. Take out the max for loans, party and steer the ship for the rocks... it happened to Maplin, Dick Smith.
The money is sucked out of the company on purpose, grandiose wages for the exec's and their friends.

I have also seen where the (parts) inventory is massively overvalued. The business gets sold for a good price and new owners quickly learn there is no cash flow for a mysterious reason. I worked for an electronic parts distributor with that problem. Shelves filled with old, oddball parts nobody wanted and "book" retail price was used to value the inventory way too high.
So the parts did not sell despite their millions $ of "worth". That distributor went bankrupt twice. Took me a while to figure out why the business was failing.