Gionee has officially declared themselves as bankrupt and has filed for bankruptcy in China. The company is in a debt of around $3 billion to their 648 creditors. Huaxing Bank had filed a petition in the court for consolidating all the related assets of the company. Shenzen based court has now accepted the liquidation of the company. Apart from their creditors, Gionee has reportedly not paid their ad agencies or suppliers either.
Though amidst bankruptcy, a report submitted by lawyers to IFENG, a Chinese news platform, suggests that the bankruptcy can be turned into reorganization. Previously, company had brought in a team of reconstructing consultants to blueprint a plan for the reorganization.
In an interview with Securities Times, Liu Lirong, Gionee’s Chairman and Chief Executive, admitted that Gionee’s total debts amount to 17 billion yuan, with 10 billion yuan of this owed to banks, 5 billion yuan to their suppliers and about 2 billion to advertising agencies. The company actually went to bankruptcy when Lirong lost around 1 billion yuan, which totals to around $144 million, in a gambling bet in a Saipan-based casino in Hong Kong. However, local news has reported it as 10 billion yuan ($1.44 billion), which could be the actual figure that company may have refused to disclose. This added more fuel to what was already in the fall.
Founded in 2002, Gionee was one of the leading smartphone brands in India and China. It was even the 6th best selling smartphone brand in China, in 2016. It started its ride off the cliff when suppliers refused to supply parts as they were not being paid, last year. Notably, the last smartphones launched under the brand in India were back in April of this year. Gionee India’s CEO and Managing Director Arvind Vohra stepped down in August 2017. David Chang, Global Sales Director for Gionee, then started leading the India operations.
Just a while back, Arvind Vohra and Karbonn Mobiles’ promoter Pradeep Jain have agreed acquire a 75 percent of company’s India operations. The deal is said to be worth Rs. 200-250 crores, while the Gionee India operations are said to be worth Rs. 125 crorers.
Xiaomi, Oppo & Vivo joins hands to develop Fast File Sharing Service
Chinese smartphone giants have come together to develop a service that will let users transfer files, without installing any other apps or signing up for any services. Xiaomi, Oppo, and Vivo have officially announced a new cross-brand direct file transfer alliance today. Smartphones mace by these three brands would soon be able to transfer files at a speed of up to 20 MBps without any third-party app. This is a step that may turn out to be a nice way to provide a seamless experience like AirDrop on Apple devices. Color OS, Funtouch OS and MIUI announced the same on their Weibo accounts as well.
File sharing between Android phones is a mess. Android users had the ability to use Wi-Fi Direct to share files. With a similar approach, developers brought apps like Xender, ShareIt. But those apps were soon flooded with ads and annoying notifications. Xiaomi joined the league later with Mi Drop, an ad-free app that users can download for free and transfer files easily. Recently, the app was renamed to ShareMe. Google also brought File Go, a file manager which also lets users transfer files between phones. However, the problem isn’t solved. As Xender has established itself as one of the most popular file-sharing apps, most people use it. As of now, there are no apps that support file sharing between phones that have different apps installed. So, to address the issue and solve a big problem like this.
Due to the lack of a native file sharing service on Stock Android as well as due to the fact that brand modifies Android as per their wish, there weren’t such service available to consumers. However, this alliance will make it a bit easier for Android phone users to transfer files. The service will let users transfer files in multiple file formats such as photos, videos, songs, documents, etc.
This alliance makes so much sense right now because these three brands, i.e. Oppo, Vivo, and Xiaomi collectively hold 50% of the smartphone market share in China. Also, we may see OnePlus joining the alliance as both Oppo and Vivo, as well as OnePlus are subsidiaries of BBK Electronics. As of now, it is known that the service will be offered to the public under the open beta program, by the end of this month.
Nokia 7.2 Spotted in GeekBench. Comes with Snapdragon 660!
HMD is expected to launch the Nokia 7.2 later this month in China and a global release at IFA in September. Ahead of the official unveiling, the mid-range Nokia smartphone is spotted on the benchmarking site Geekbench. The benchmark result reveals key details about the phone ‘s specs including its chipset.
The smartphone was benchmarked in Geekbench as the “HMD Global Nokia 7.2”. According to the listing, the device has 6GB RAM and runs on Android 9 Pie. We can expect other RAM variants too but this should be the highest RAM option. The predecessor Nokia 7.1 was available in 3GB RAM and 6GB RAM variants.
The Geekbench listing doesn’t mention the chipset and the motherboard says “Daredevil” which is the phone’s codename. However taking its base frequency of 1.84GHz and comparing to other benchmarked devices, it will be powered by the Snapdragon 660. So, the rumours about the Nokia 7.2 being powered by the SD 660 turned out to be true. This is a fair upgrade considering the Nokia 7.1 came with a Snapdragon 636 chipset.
As for its performance, the device managed to score 1604 and 5821 points in the single-core and multi-core tests respectively. They are similar to the score of Redmi Note 7 which have the same SD 660 chipset. The handset is said to sport a triple rear camera setup stacked in a circular housing. The configuration of the cameras is unknown but we can expect it to have ZEISS lens. Moreover, it should come with a FHD+ display and a rear mounted circular fingerprint sensor.
HMD is yet to reveal the remaining specifications of the Nokia 7.2. We have to wait till the launch event to known the full specs, price and availability of the device. Till then, keep tuned.
Xiaomi reveals it’s 64MP Smartphone Camera! Also teases 100MP Smartphone Camera!
Xiaomi and Realme rivalry is at its peak and looks like though Realme has an edge over Xiaomi in terms of a 64-megapixel camera, the Chinese smartphone giant isn’t leaving any stones unturned. We are already aware that Xiaomi is already working on a quad-camera setup that consists of a 64-megapixel sensor. As of now, there are no words regarding which phone would get the massive 64-megapixel camera, the company has revealed more details about the 64-megapixel camera, along with a few more exciting updates.
Xiaomi held a presentation regarding its camera technology at the Xiaomi Future Image Technology Communication Conference in Beijing, China. At the event, the company has finally revealed that it is using the 64MP Samsung ISOCELL GW1 camera sensor and a lot of features of the sensor were highlighted. It is believed that a Redmi phone may come with the 64-megapixel camera, hinting towards the Redmi Note 8. It is believed that the Redmi Note 8 would be powered by MediaTek’s latest flagship chipset, the Helio G90T.
In terms of the 64-megapixel sensor, the new Samsung ISOCELL GW1 64-megapixel sensor holds 38% more pixels than a 48-megapixel camera and with this sensor, Xiaomi claims that pictures would turn brighter, vibrant and more detailed. The Samsung ISOCELL GW1 sensor is a large 1/1.7″ sensor with a 0.8μm pixel size. The upcoming Redmi Phone will also pack features like ISOCELL Plus for improved color reproduction, Smart ISO and Hybrid 3D HDR. The images captured using the camera will have a resolution of 9248 x 6936 pixels. That’s huge, but that’s not the end. Images captured using the camera can take a lot of space, as high as 19 MB.
At the event, Xiaomi also teased an upcoming Mi Series smartphone which will feature a massive 108-megapixel sensor from Samsung. As per the company, this sensor can capture images with dimensions up to 12,032 x 9,024 pixels. There are some rumors going on regarding this sensor as some sources suggest that the sensor will be first used on the upcoming Mi Mix 4, Xiaomi’s premium flagship lineup! Here’s the teaser by the way!
And yes, Manu Kumar Jain was quick to share the teaser in English on Twitter. We are expecting another Twitter fight between Xiaomi and Realme soon! 😉
WHOA! #100MP camera 😮
Yes, we've been working on 100MP camera flagship phone!
And then #100MP 📸
— #MiFan Manu Kumar Jain (@manukumarjain) August 7, 2019
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