The Chinese smartphone makers have been in all sorts of trouble in the past few years now, with Huawei being the latest of Chinese Mobile phone companies to face some criticism. As of today we have received news that another Chinese company known as Gionee has declared that their company is in a state of Bankruptcy. Well if Gionee does not ring any bells, well QMobile in Pakistan were caught selling rebranded mobile phones of the said company. Phones ranging from the low-end technology to the reasonably better ones, they were always Gionee mobile phones which were sold in an re-branded fashion by the company known to many Pakistani’s as QMobile.
Gionee has had a bad year overall, the country is currently in CNY 20.2 billion debt which is about $3 billion, to a total of about 648 different creditors across China. Half of these creditors are banks and Gionee has not been able to pay of its suppliers or their creditors at all. Moreover, another interesting development, which is rather unfortunate has resulted in the company falling in to even deeper waters. The company founder Liu has lost a massive CNY 1 billion which he bet in a Casino recently making the company’s situation even worse.
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Bankruptcy Declared by the Manufacturer of QMobile Phones
So the real question from us Pakistani’s is that with Gionee now pretty much out of the picture, what will happen to the Entrepreneurship of QMobile? Well for one thing, this latest development completely puts the fate of QMobile in jeopardy if Gionee is bidding farewell to the smartphone company and well lets be honest, for that to happen is like finding a needle in a haystack. However if they do somehow manage to survive this desperate time and is able to restructure within the next 3 to 5 years as Liy Lirong is claiming, then we might still see QMobile in the cellphone market of Pakistan
