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The smartphone maker YotaPhone is bankrupt

The Russian company Yota Devices launched its first dual-screen smartphone in 2013: we are talking about YotaPhone, a phone that immediately aroused the curiosity of enthusiasts and professionals.

The original YotaPhone featured a color screen on one side and one with e-Ink technology on the other and the following year it was joined by the second generation, characterized by a more refined design and better features.

However, things did not go well for Yota Devices and most of the company’s shares were acquired by a company based in Hong Kong, which does not seem to have managed to revive the fortunes of the brand.

In the summer of 2017, YotaPhone 3 was launched a smartphone that has remained an exclusive of China and could represent the latest model of this brand.

Indeed, Yota Devices has declared bankruptcy and the company’s assets will be liquidated. It seems that the company that provided the displays for the first two models of YotaPhone has filed a lawsuit claiming that the Yota devices failed to meet the minimum order after the expected expansion in the US market was canceled.

The Yota Device would therefore have paid $ 17 million in compensation and would not have been able to pay in response to a request for another million dollars. Hence the request for the bankruptcy procedure.

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