Apex Mobile, a phone company that began in 2022, shut down after just five months.

It’s been a few years since Apex Mobile launched its smartphone line, but the company announced that it is shutting down on December 31st 2023. The announcement came as a surprise to many people and left them wondering why Apex would shut down when it seemed to be doing well.

What was Apex Mobile?

Apex Mobile was founded in 2022 by Dr. Elisabeth Guggenheim and her husband, James Guggenheim. The company produced Android smartphones with a variety of different hardware options, ranging from low-end phones to high-end flagship devices. The phones were manufactured by Foxconn in China and were sold exclusively through Amazon.com for the first few years of their existence.

Why did Apex shut down?

The shutdown announcement came as a shock to many people because the company seemed to be doing well at the time of its closure. Apex had recently released two new flagship devices: the X1 Plus and the X2 Plus, which both received positive reviews from critics. However, according to an article published on Business Insider about the closure, this might not have been enough for Apex to stay afloat.

“It’s hard for me not to speculate about what happened behind closed doors,” Business Insider’s Harrison Jacobs wrote in his article about Apex’s closure.

“If I had to guess (and this is just speculation), I’d say that they simply weren’t making enough money.”

“While they had great products with an even better price point ($200), they weren’t able to make any money off of those sales.”