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

masterP042:
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*

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

nijabazaar:


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

seunlayi:
when Nigerians can't afford gionee phone and replacement part again. This affected them

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

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

eki2000:
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?

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

biztip:
this year there has been a drastic demands for mobile phones in Nigeria. this might not be unconnected with the economic hardship in d country. I sell phones and I can attest to that. some of these phone manufacturers have their greatest sales in Nigeria. so a drop in demand in Nigeria can affect them hugely. even more manufacturers might follow suit in this bankruptcy issue. a lot of businesses are running without profit line. I have seen bigger phone dealers with many branches that have closed up. if u re still living in denial about d bad nature of d Nigerian economy, be there until it reaches u and hit u hard. this current govt is economically equipped ..

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

soflygerian:
Does this mean I can walk into the gionee showroom and get a phone for almost free??

nnamdibig:
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

theoldpretender:


The Nigerian economy is in a bad state, but if Gionee was relying on JUST the Nigerian market...then they deserve to fail.

If you want to be an international phone company, better have markets all over the world. Putting ones eggs in one basket is a big mistake.

theoldpretender:



If what you guys are saying is true...then Gionee deserves to fail...and to fail utterly.

You want to be an international company, and you are putting all your eggs in one basket? ie one country.?

See SAMSUNG...tentacles in Asia, Africa, Europe and the USA....so that if one arm falls, another takes its place.

correctguy101:


Ahn ahn, Gionee no be Samsung mate na...

About phone manufacturers... Relationship with any country and their allies is also very important cos of fear. Espionage things, you know.

And the owner has the guts to dip his "gambling infested " hands in the "pot of soup"... Stakeholders go nearly kill am cosi don't see them getting their invested funds back.
Bankruptcy is just a way for the criminal to cut losses and keep the remaining "food" to himself and /or maybe his senior investors...

What do I even know.

theoldpretender:


There was a time when Samsung products were poor quality. (that was back in the late 80's). Times have changed.

Same thing with all the japanese products like their cars, etc ...50-60 years ago...poor quality. Now...

China can improve....this used to be a country where the GDP was less than that of Sierra Leone back in 1972....

EricBloodAxe:

Bcuz d old man is synonymous wit failure.

ddjay:
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

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

lanre316:


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