Taipei-based computer hardware maker Gigabyte Technology was boycotted in China after mocking Chinese-made goods.
“Unlike other brands that have opted for low-cost and low-quality contract manufacturing in China, Gigabyte Technology is committed to producing excellent and high-performing components and laptops. As a Taiwan-based laptop and component manufacturer, we ensure that 90 percent of our laptops are made locally in Taiwan,” said Gigabyte’s ad on their website.
The Communist Youth League of China posted a screenshot of the advertisement on Weibo and added the caption: a“Gigabyte, who gave you so much courage?.”
Since the condemnation post was published, Gigabyte’s stocks dropped by 10% and lost roughly $550 million in market value.
Chinese e-commerce platforms JD.com Inc. and Suning.com Co. also removed Gigabyte products from their shelves.
Gigabyte immediately removed the ad and issued a statement saying that it supported the “One China” principle.
“Some of the content recently published on our official website is seriously inconsistent with the facts, an occurrence that was caused by poor internal management by the company. We have production lines across mainland China, which percent account for 90 per cent of our production. Gigabyte is proud of the quality of Chinese manufacturing,” said Gigabyte.