ics ▁President ▁Josh ▁Den ham ▁was ▁replaced ▁with ▁out s ider ▁Mack ▁Morris . ▁ ▁Morris ▁brought ▁in ▁former ▁Matt el ▁Electron ics ▁president ▁and ▁market ing ▁director ▁Jeff ▁Ro ch lis ▁as ▁a ▁consult ant ▁and ▁all ▁projects ▁were ▁under ▁review . ▁ ▁The ▁Int ell iv ision ▁III ▁was ▁cancel led ▁and ▁then ▁all ▁new ▁hardware ▁development ▁was ▁stopped ▁when ▁ 6 6 0 ▁jobs ▁were ▁cut ▁on ▁August ▁ 4 . ▁ ▁The ▁price ▁of ▁the ▁Int ell iv ision ▁II ▁( which ▁launched ▁at ▁$ 1 5 0 ▁earlier ▁that ▁year ) ▁was ▁lower ed ▁to ▁$ 6 9 , ▁Matt el ▁Electron ics ▁was ▁to ▁be ▁a ▁software ▁company . ▁ ▁However , ▁by ▁October ▁ 1 9 8 3 ▁Electron ics ▁losses ▁were ▁over ▁$ 2 8 0 ▁million ▁for ▁the ▁year ▁and ▁one ▁third ▁of ▁the ▁programming ▁staff ▁were ▁laid ▁off . ▁ ▁In ▁November ▁another ▁third ▁were ▁gone , ▁and ▁on ▁January ▁ 2 0 , ▁ 1 9 8 4 ▁the ▁remaining ▁programming ▁staff ▁were ▁laid - off . ▁ ▁The ▁Taiwan ▁and ▁French ▁offices ▁continued ▁a ▁little ▁while ▁longer ▁due ▁to ▁contract ▁and ▁legal ▁oblig ations . ▁ ▁On ▁February ▁ 4 , ▁ 1 9 8 4 ▁Matt el ▁sold ▁the ▁Int ell iv ision ▁business ▁for ▁$ 2 0 ▁million . ▁ ▁In ▁ 1 9 8 3 , ▁ 7 5 0 , 0 0 0 ▁Int ell iv ision ▁Master ▁Com ponents ▁were ▁sold , ▁more ▁than ▁three ▁million