Pros
Good relations between people. Fairly flexible schedule. Nice location. Good history.
Cons
Short-handed management. No solid plan for doing business. Poor understanding of the dynamics of the industry. "Fast follower" strategy (meaning always late to the market, but very cheap). Releases are late because of a lot of mistakes done in the production process for no good reason. It takes time to fix those avoidable mistakes. There is no reason to repeat those mistakes every time. The overall development process is inefficient due to a lot of mistakes and a poor communication and coordination between responsible parties. No clearly defined responsibilities among participants. No clearly defined development/production process. Salaries on average are lower than in other companies. Compensation package consists of medical insurance (no stock grants, no ESPP, no 401K matching, no bonuses).