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Gionee Mobile Is Officially Bankrupt As Company Files For Liquidation In Court

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Gionee Mobile Is Officially Bankrupt As Company Files For Liquidation In Court 1
A few weeks ago I made a post regarding Gionee’s financial woes being the possible reasons why we haven’t seen new phones from Gionee. In case you missed that post you can find it here.

The same day I made the post a Gionee Nigeria staff called me and made threats regarding the post saying they would take action against me for publishing such content which was quite laughable. I don’t take down content that is true to please any brand. I also believe he was quite oblivious of the current position of his employers so I would disregard the threat.

Gionee Mobile Is Officially Bankrupt As Company Files For Liquidation In Court 2

The news reaching me now is that the company has officially entered bankruptcy.

A court in Shenzhen has accepted the application for liquidation bankruptcy by Huaxing Bank. This may still turn into a company reorganization – Gionee hired restructuring consultants last week. Founder Liu Lirong thinks that the company can turn its fortunes around in 3-5 years.

However, Gionee owes a total of CNY 20.2 billion (around $3 billion) to 648 creditors. About half of the debt is to banks. Earlier this year the company failed to pay suppliers. Ad agencies haven’t been paid either.

The company’s money problem started when the founder and chairman Liu lost a CNY 1 billion bet in a casino.

Liu admitted in the interview that Gionee’s total debts amount to 17 billion yuan ($2,447,065,000), with 10 billion yuan($1,439,450,000) of this owed to banks, 5 billion yuan($719,725,000) to upstream suppliers and about 2 billion to advertising agencies.

If nothing spontaneous happens in 3 – 5 years and the executives can’t avoid gambling, this will be the end of Gionee Electronics and Smartphones.

Michael Ajah is a Computer Science Student of The University of Port Harcourt and a Chelsea Fan. He loves RnB and a little mix of Trap Music. An awesome tech reviewer and analyst. Email - [email protected]

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smartphones

Tecno Phantom 9 is on its way

Isaac Godwin

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Tecno Phantom 9 is on its way 5

Tecno Phantom 9 is on its way 6

Just in case you still haven’t heard, Tecno Mobile posted a teaser of their next addition to the phantom series. This was posted on their Facebook page about last week Tuesday.

Tecno Phantom 9 is on its way 7

The phantom series is considered to be Tecno’s top innovations, their flagship lineup. Always incorporated with the best hardware & features from the Chinese company. The phantom 9 seems to be following the same sequence.

From the teaser, we supposedly got a few hints (not sure if this is the right word) of what to expect before it is finally revealed. And it has a couple of impressive specs I’d say.

Here are the following specifications from the teaser;

• 6.4 inch Full view AMOLED display

• Android 9 – the latest android version

• In-display Fingerprint sensor

• 6GB RAM + 128GB ROM

• AI triple camera with dual front flashlight

• 3500mAh battery

I think Tecno needs to be reminded of what a teaser mean, because at this point, you’ll have to wonder how this is a teaser. Permit me to called it a spoiler instead.

What else do they have in store? They literally listed every spec we care about in a smartphone today. Well, only time will tell.

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iPhone 11 – Is there anything left to announce?

Isaac Godwin

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iPhone 11 – Is there anything left to announce? 8

iPhone 11 – Is there anything left to announce? 9

It is still months before Apple unveil their next iPhone, but that has not done enough to avert the ton of leaks online.

The release for the iPhone 11 is set for September this year. Apart from the aesthetics and designs, not much is known about its specifications.

Although there have also been rumors of the iPhone 11 spec sheet, history has severally proven those type of speculations to be unreliable.

Here are the leaked photos. What do you think?

iPhone 11 – Is there anything left to announce? 10

iPhone 11 – Is there anything left to announce? 11

iPhone 11 – Is there anything left to announce? 12

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