Gionee was only unable to enjoy little or no same popularity or presence as with the likes of OPPO, VIVO and other brands from China, but it’s a phone manufacturer popularly known for making devices with big battery capacity.
Trouble, however, started back in 2017 when the company was embroiled in a state of financial crisis turmoil when it was to owe a total of CNY 20.2 billion ($3 billion approximately) to 648 creditors. The company who once seen as a business with great future officially gone bankruptcy. when reports suggests that it hasn’t paid its ad agencies and suppliers too, who are waiting to be paid off.
It has been reported that the official Gionee China website is down. We checked and the site seems to have been taken down. The possible explanation to this is that Gionee might have shut down its business in China. The Gionee India site is still up but we don’t know for how long before it gets taken down too.
According to the reports, Gionee’s chairman lost CNY 10 billion ($1.4 billion approximately) in a bet at a casino, an allegation he denied at first, but later owned up to borrowing a chunk of the company’s fund.
The firm hasn’t really made any noteworthy smartphone in well over a year now, although its Indian arm seems to be making some moves as it reportedly released a couple of devices locally months ago. Well, it appears the Chinese firm is finally out of business as there are speculations it is shutting down its Chinese arm. While there isn’t any official statement backing this up, a check on the firm’s Chinese website indicates it is currently down and has been so for quite some time now.
Are we about to see the end of the road for Gionee? We will get find out in due course.
via (in Chinese)