> I'm glad they are refunding me, but that makes me think... WTF, did they not produce any Time 2's? Or are they all going to the landfill?
The probably made some, but it takes money to turn any component inventory they may have into shippable products. They probably burned all of the money on mechanical tooling and part procurement already, and maybe hit a major issue in doing so (critical component is suddenly a very different price, etc). All of that inventory either is returned (if possible) or ends up liquidated on the secondary electronics component market for pennies on the dollar, to pay back the creditors. Custom parts, tools, etc have less of a resale market, but I'm sure a company in China will be happy to pick them up cheap to make smartwatches for the local market.
> and maybe hit a major issue in doing so (critical component is suddenly a very different price, etc)
There were some stories circulating that their provider of screens for Time 2 is in financial troubles, so presumably may have not been able to fulfill the order.
The probably made some, but it takes money to turn any component inventory they may have into shippable products. They probably burned all of the money on mechanical tooling and part procurement already, and maybe hit a major issue in doing so (critical component is suddenly a very different price, etc). All of that inventory either is returned (if possible) or ends up liquidated on the secondary electronics component market for pennies on the dollar, to pay back the creditors. Custom parts, tools, etc have less of a resale market, but I'm sure a company in China will be happy to pick them up cheap to make smartwatches for the local market.