Remember the Russian smartphone brand Yota which has cool dual-screen phones? It declared bankruptcy not long ago.
The Supreme Court of Cayman Island has agreed to a liquidation request last month and the company’s creditors have 21 days to establish their claims.
Yota’s dual-screen phone was presented to the Chinese president Xi Jinping in 2014 as gift by his Russian counterpart Vladimir Putin.
Since then, the distinctively-designed Russian brand began to catch on in China. Yota sold 36 million phones in China with RMB 46 billion (USD 686 million) in sales in 2014.
New launches, big wins: Early StageNew launches, big wins: Early Stage
Chinese companies are flocking to India, but their optimism needs to be temperedChinese companies are flocking to India, but their optimism needs to be tempered
Nikkei teams up with 36Kr in Asia tech news coverageNikkei teams up with 36Kr in Asia tech news coverage
Grady Laksmono of Moka on supporting small businesses: Startup StoriesGrady Laksmono of Moka on supporting small businesses: Startup Stories
The continent of the 21st century: Venture VoicesThe continent of the 21st century: Venture Voices