Editing Universal Abit (section)

== History ==
ABIT was founded in 1989. In 1991, the company had become the fastest growing motherboard manufacturer, claiming [[United States dollar|US$]]10 million in sales.<ref>{{Cite web |title= About ABIT: Company profile |work= Web site |url= http://abit-usa.com/html/about.htm |url-status=dead |archive-date= 21 December 1997 |archive-url= https://web.archive.org/web/19971221083041/http://abit-usa.com/html/about.htm  |access-date= 23 July 2013 }}</ref>
In 2000, ABIT underwent an [[initial public offering]] (IPO) on the [[Taiwan Capitalization Weighted Stock Index|TAIEX]] [[stock exchange]]. To keep pace with their "good" sales figures, they opened a factory in [[Suzhou]], [[China]], and moved to new headquarters in [[Neihu District|Neihu]], [[Taipei]]. The number of motherboards sold was claimed to have doubled between 2000 and 2001.{{citation needed|date=October 2010}}

Abit chose to outsource two low-end boards for trial production from June 2002 to [[Elitegroup Computer Systems]].<ref>{{cite web | url=http://www.digitimes.com/NewsShow/Article.asp?datePublish=2002/07/19&pages=14&seq=85 | title=Abit outsources low-end mobo products to Elitegroup | publisher=DIGITIMES | date=19 July 2002 | archive-url=https://web.archive.org/web/20020802034914/http://www.digitimes.com/NewsShow/Article.asp?datePublish=2002%2F07%2F19&pages=14&seq=85 | archive-date=2 August 2002 | url-status=dead }}</ref> Confirmation of the [[outsourcing]] move was made public in July 2002, accounting for 10% of Abit's motherboard shipments for the first model, and by August 2002, this would increase to 15-20% for the second model, for the company's niche products, such as [[server (computing)|servers]] and [[router (computing)|routers]], Abit's factory in [[Taoyuan District|Taoyuan]], Taiwan factory will then serve as their base.<ref>{{cite news|url=http://www.digitimes.com/NewsShow/Article.asp?datePublish=2002/07/30&pages=14&seq=89 | publisher=DIGITIMES | title=Abit: Likely to consider outsourcing all mobo production to ECS | date=30 July 2002 | access-date=9 March 2015}}</ref><ref>{{cite news|url=http://www.tomshardware.co.uk/abit-likely-to-consider-outsourcing-mobo-production-to-ecs,news-5774.html | publisher=Tom's Hardware | title=Abit likely to consider outsourcing mobo production to ECS | date=30 July 2002 | access-date=10 March 2015}}</ref>

Abit had somewhat of a blow in March 2003, when Oskar Wu, a leading engineer on the famous ABIT NF7-S motherboard, [[Resignation|resigned]] after the [[NForce]] series to become head of the LANParty range at competitor [[DFI]].<ref name="The 0scar Wu BIOS revisited">{{cite news|url=http://www.madshrimps.be/articles/article/865/DFI-X48-T3RS-review-redefining-the-high-end-/3#axzz3Tflhakyd | publisher=Mad Shrimps | title=The 0scar Wu BIOS revisited | date=16 November 2008 | access-date=10 March 2015}}</ref>

On 15 December 2004, the [[Taiwan Stock Exchange]] downgraded ABIT's stock due to questionable [[accounting]] practices. Investigations revealed that the majority of their import/export business was conducted through seven companies, all located at the same address and each of which had a [[Financial capital|capital]] of only [[Hong Kong dollar|HK$]]2.<ref name="ABIT Keeps Supplying Mainboards">{{cite web | url=http://www.xbitlabs.com/news/other/display/20041221142822.html | title=ABIT Keeps Supplying Mainboards Amid Accounting Scandal | publisher=X-bit labs |date=21 December 2004 |archive-url=https://web.archive.org/web/20071123223446/http://www.xbitlabs.com/news/other/display/20041221142822.html |archive-date=23 November 2007}}</ref> This made it easy to inflate the reported number of motherboards sold. The [[Hong Kong]] media also reported that the management was being investigated for [[embezzling]] funds from the company.<ref name="Abit stock downgraded">{{cite news|url=http://www.digitimes.com/mobos/a20041215B2074.html | publisher=DIGITIMES | title=Abit stock downgraded to requiring full delivery | date=15 December 2004 | access-date=7 March 2015}}</ref>

In June 2005, ABIT partnered with Wan Hai Industries. This [[container shipping]] company, also a principal investor in [[China Airlines]], brought the company much needed capital,<ref>{{cite news|url=http://www.anandtech.com/show/1709/6 | publisher=AnandTech | title=Abit Discusses their Finances and Future | date=10 June 2005 | access-date=1 September 2008}}</ref> since the company had financial problems at this time, partly due to a [[class action lawsuit]] involving [[Capacitor plague|faulty capacitors]] on their products,<ref>{{cite web|url=http://www.badcaps.net/forum/showthread.php?t=394|title=Class Action Lawsuit against Abit|publisher=badcaps.net|date= 21 January 2005 |access-date=2010-11-16}}</ref> but also because of marketing highly technical products to the general public while offering longer-than-average [[warranties]] and generous [[Return policy|return policies]].{{citation needed|date=March 2015}}

On 25 January 2006, ABIT announced that USI intended to purchase ABIT Computer's motherboard business and brand and announced a special [[shareholders' meeting]] to discuss the sale of ABIT's Neihu building, changing ABIT's company name, the disposition of the company's assets, and the release of the directors from [[Non-compete clause|non-competition restrictions]].<ref>{{cite web|url=http://www.usi.com.tw/press_content.asp?NID=204 | title=USI Announces to acquire motherboard division of ABIT computer | publisher=Universal Scientific Industrial | date=25 January 2006 | archive-url=https://web.archive.org/web/20060426050038/http://www.usi.com.tw/press_content.asp?NID=204 | archive-date=26 April 2006}}</ref><ref name="USI and ABIT form">{{cite news|url=http://www.dailytech.com/ABIT+Gets+a+Shot+in+the+Arm/article1354.htm | publisher=DailyTech | title=USI and ABIT form new joint venture company | date=21 March 2006 | access-date=27 February 2015}}</ref> ABIT sold its own office building in Taipei to [[Deutsche Bank]] in order to raise money to cut its debt.<ref name="toms">{{cite news|url=http://www.tomshardware.com/news/abit-motherboard-exit-universal,6278.html | publisher=Tom's Hardware | title=Universal Abit Reportedly Leaving Motherboard Market | date=29 August 2008 | access-date=23 July 2013}}</ref>

Following USI's acquisition of the motherboard business, the remaining divisions of ABIT switched to distributing components and [[Networking hardware|networking]] products, while using its [[Suzhou]], China plant only to offer some motherboard contract manufacturing services.{{citation needed|date=March 2015}}

The acquired motherboard business and the 'ABIT' brand name were used by USI under the new brand name '''Universal Abit'''. In the US, it was known as Universal Abit USA Corporation. The old company, ABIT Computer Corporation (USA), is now dissolved and is no longer in existence.<ref name="Abit and USI Merge">{{cite news|url=http://www.dailytech.com/Abit+and+USI+Merge++Exclusive+Interview/article440.htm | publisher=DailyTech | title=Abit and USI Merge – Exclusive Interview | date=25 January 2006 | access-date=27 February 2015}}</ref>

Universal Abit later announced that it would close on 31 December 2008, and officially cease to exist on 1 January 2009.<ref name="xbit" />
By 2009, Abit no longer sold motherboards.<ref name="toms" />

Universal Abit was located in [[Neihu District|Neihu]], [[Taiwan]] with regional offices in [[China]], [[United States|USA]], [[Iran]] and the [[Netherlands]].