After two years, three devices and a promising start, Gionee sub-brand IUNI has finally filed for bankruptcy. This marks the death of yet another Chinese company, and while we could’ve seen this one coming from miles away, it’s still painful to see it happen.
IUNI, who popped up at about the same OnePlus did, has been struggling for quite a while now. The company only ever put out three smartphones, those being the IUNI U2, U3 and N1. While the devices were good, they never enjoyed much recognition and were often overshadowed by the competition.
We did hear about IUNI having some troubles a few months ago, but the company’s demise was only recently announced. In an official statement, Shenzhen Hing Wah Building Pericom Technology Co. Ltd., the official parent company of IUNI has blamed the recent industry downturn, internal discord among shareholders, management mistakes and other problems as the source of the company’s bankruptcy.
For their suppliers, IUNI has prepared to options. Either 1. cash settlement at 50% discount or 2. getting back the unsold smartphones at a cost. Ironically, parent company Gionee is expected to release the Gionee M6 and M6+ in Beijing tomorrow, so while IUNI may be dead, it looks Gionee is still fine for now.
The death of IUNI just goes to show that no matter how good or well received your devices are, if you don’t play your cards properly the cutthroat Chinese smartphone market will cut you down whether you’re just a small startup or a larger company’s sub-brand.
What do you make of this news? Have you ever used a IUNI device? Tell us down in the comments below.