World’s lightest smartphone maker, Modu to shut shop?

Israel based Modu will be shutting shop as soon as Feb 2011. Modu has 30 employees and most of them will have to be laid off and debt to be paid off. Modu’s attempt to raise capital in Israel did not materialize, forcing it to close shop. Modu is a company which makes miniature phones, which can be plugged in to various jackets like sports or music to enhance the capabilities of the phone.

Modu in collaboration with Micromax has launched Modu T, one such phone. The phone is the lightest smartphone ever. Micromax has even listed this partnership as one of their key products in its IPO draft prospectus. USB flash drive pioneer, Dev Moran, is Modu’s founder. May be, this is not a world for lightest smartphones.

Grab your Modu T while you can and save it in your antique collection. You might never see it again.