Russian double-sided screen mobile phone maker Yota Devices collapses

- Apr 23, 2019-

Remember the YotaPhone, a double-sided phone from Russia, but the company behind it, Yota Devices, has gone bankrupt. According to Cnews. Ru and Liliputing reported that the company issued a clearing notice on the Cayman Islands Gazette (PDF).

 

According to reports, a Russian mobile phone company was killed in a lawsuit. Yota Devices' first two generations of YotaPhone manufacturer Hi-P Singapore sued the company for $126 million in 2015, saying it refused to accept the minimum number of handsets it had agreed to order. Hi-P Singapore has agreed to charge $17 million, but apparently the deal failed.

 

Although it has surpassed the Indiegogo crowdfunding target, Yota failed to ship YotaPhone 2 to the US in 2015. At the end of 2016, the company decided to withdraw from the Russian and European markets and shift its focus to China.

 

After receiving investment from Chinese companies, Yota Devices only sold Yota 3, which won the 2018 iF Design Award in China. The phone was not launched in Russia and other markets.

 

The double-sided screen phone is gone, it is time to look at the foldable phone. However, Samsung’s recent troubles have made people worry about the quality of the initial foldable phones.