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Apex Digital Co-Founder Resigns

4/17/2006 02:23:00 PM Eastern

Walnut, Calif. — Apex Digital co-founder Ancle Hsu has left the company, according to a statement issued by the company. The company had no comment on the reason for his departure.

Hsu founded Apex Digital along with partner, David Ji, who was apprehended by parties connected to the Chinese government in 2004 for allegedly defrauding one of its suppliers. Apex Digital has denied the charges.

Ji, who remains president of Apex Digital, is still in custody in China. An Apex Digital spokesperson said the company is hopeful that Ji will be returned to the United States any day. In the meantime, the company is being run by Andrew Lashenske, former operations VP who has just been promoted to COO.

Hsu and Ji led the Apex Digital to fame by building the Apex brand into one of the top-ranked suppliers of DVD players. Relying on its connections to Chinese suppliers, the company employed an aggressive pricing strategy that placed its products into some of the top discount store chains in the country.

The company continues to do business with such leading retailers as Wal-Mart, selling DVD players, portable DVD players, LCD TVs and personal media players.

“The Apex Digital story has been one of phenomenal growth since it was launched in 1999,” Lashenske said in a prepared statement. “We remain optimistic about future growth and will ensure that the company operates fluidly and efficiently continuing to provide the quality and service our customers have come to expect from Apex Digital.”

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