OCZ Finds More NAND Suppliers, Looks to Get Back to Profitability

bp9801 - November 29, 2012 05:50PM in Manufacturers

OCZ has been struggling a little of late, especially after it announced a reorganization plan earlier this month. Now, things may start to get back to normal, as OCZ has found more NAND suppliers after an unexpected shortage caused its shares to plummet 60%. The new suppliers had a positive effect on the shares price, as it rose 30% soon after the announcement. New CEO Ralph Schmitt is pleased with the new suppliers since he said OCZ was "overly reliant" on one, and hopes things can rebound for the company. He also said OCZ has no plans to sell but is "always open" to "strategic alternatives," which could possibly mean a partnership of some kind or just that the company is always listening to its options. In any case, hopefully the new suppliers help OCZ return to profitability.