We have some good news and some bad news about Gionee. The good news is that one day there may be a movie about what happened. The bad news 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.



Gionee’s money troubles were exacerbated when Liu – founder and chairman – lost a CNY 1 billion bet in a casino. That’s a whopping $144 million! He claims he didn’t use company money admits he may have “borrowed company funds”. Like we said, this story would make quite a movie.

For comparison, Liu claims that the company was losing around CNY 100 million ($14.4 million) a month between 2013 and 2015. The losses per month doubled in the last two years.


https://m.gsmarena.com/gionee_enters_liquidation_bankruptcy-amp-34767.php?__twitter_impression=true

and i will start by blaming nairalanders,you people refused to support this company, instead its tecno and co.this company did their best but due to lack of support from you people, bankruptcy is the case. i suggest you people spread your support and don't narrow it down to one brand. its not fair honestly

Hope my Gionee m6 won't stop working o

Too bad... Under Buhari, too many companies folding up.

Luizkid:
Too bad... Under Buhari, too many companies folding up.

For God's sake, how could a company in far far away China going bankrupt be the fault of Buhari?

Anotii:
Hope my Gionee m6 won't stop working o

Funny

ddjay:
and i will start by blaming nairalanders,you people refused to support this company, instead its tecno and co.this company dud their best but due to lack of support from you people, bankruptcy is the case. i suggest you people spread your support and don't narrow it down to one brand. its not fair honestly

Na Nairalanders make the chairman go use millions play baba ijebu?

The chairman is a fool

lanre316:


For God's sake, how could a company in far far away China going bankrupt be the fault of Buhari?

Bcuz d old man is synonymous wit failure.

why won't they when the stop making a low budget phone for some people

Calm down...

Just a little M ans A ....

And they will be fine....

No wonder my gionee m6 stopped working

Gambling is a trap, before the victim realizes what he's into, he's already deep into it. A billionaire still gambling to make money, proves the dude is foolish and unwise, he's psychologically unfit for that post, the board should remove him if they want to salvage anything remaining of Gionee.
*the bookies always win at last, u can't win them at their game, so don't better start what you can't finish*

Buhari why?

Luizkid:
Too bad... Under Buhari, too many companies folding up.

serenityaliyu:
Buhari why?

Pls where do these idiots come from?

every time you visit your boyfriend his phone is on flight mode... my sister are you dating a pilot

Making fun of dia down fall is crazy.



I noticed something abt human,dsame way thy celebrate u on top,datz d way thy will mock u on ur way down.

Anotii:
Hope my Gionee m6 won't stop working o

.

sorry oh

Chai!!!! Person go rest now with their expensive phones without OTA update.

Finally.

i don't like their product either

Lmao .
And some people will be screaming that Gionee and co will send iphone away .

lanre316:


For God's sake, how could a company in far far away China going bankrupt be the fault of Buhari?

Buharis foul influence spreads naa

If naijas economy is good, lots of people would have been purchasing Gionee and Gionee would stay afloat but Buharibrin messed up he whole situation.

So Buhari isn't entirely free from having a hand in Gioneez fall

Terrible company....their phones have no parts. Bad customer care


Meanwhile tecno pouvir for sale @32k
Infinix hot 6 1gb ram for sale @ 22k

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