FT: Yota Devices brings the development of smartphones in China Газета.Ru

14.11.2016 | 13:51

Yota Devices brings the development of smartphones from Russia and Finland to China, writes Financial Times. According to the newspaper, has sold only 75 thousand of the first and second models of the YotaPhone, but the company has high hopes for the third one, which was supposed to come out this year.

According to the FT, the development of a new YotaPhone delayed until the end of 2017. China Baoli Technologies is the largest investor of the company is agreed with Chinese manufacturer Coolpad to develop a new version of the YotaPhone, the newspaper reports. In the Chinese market the device will be sold under the brand Coolpad, and under the brand Yota.

As stated in Yota Devices, the Chinese side will work on the “localization” YotaPhone to the Chinese market. The company said that the smartphone might be available in Russia and European markets will not be ignored.

In a joint venture Allied Jumbo in Shenzhen on a new phone with two displays based on the technology of Yota will work 260 engineers. As a result, according to the newspaper, Yota Devices has lost about 30 engineers in Finland and the “Russian base” was reduced by approximately 40%.

In April reported that the shareholders of a Hong Kong investment holding company, Rex Global Entertainment has decided to acquire a 30% stake in smartphone manufacturer Yota Devices.

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