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  Wileyfox: British Smartphone maker is under bankruptcy | Bit Updates
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Wileyfox: British Smartphone maker is under bankruptcy

Thursday, February 8th, 2018 | bitcoin updates

    (Picture: Wileyfox)
             The future of Wileyfox is uncertain: The smartphone manufacturer from the United Kingdom is, according to a former employee under bankruptcy.


        The British smartphone maker Wileyfox is apparently bankrupt. The company is under bankruptcy, reports a now dismissing employee on Reddit. A Wileyfox manager confirmed this to heise online and announced a statement.
The bankruptcy trustees have since told the registry that Wileyfox no longer has funds to maintain operations due to problems with its Russian bank. Also, the smartphone business did not develop as expected. 20 of the approximately 30 employees were dismissed.

Previously, the bankruptcy proceedings also confirmed a Benelux-based Wilefox manager against the Dutch technology website tweakers.net. Wileyfox is in a restructuring process, the spokesman said. Every effort is made to somehow keep the Wileyfox brand alive.
From Cyanogen to Android Wileyfox was founded in 2015. The company made a name for itself as a provider of smartphones with Cyanogen OS. The end of Cyanogen meant for Wileyfox the omission of the largest unique selling point. Younger devices from Wileyfox run on a pure Android.
Recently, Wileyfox had caused a stir with a new concept in the advertising market: Several smartphone models were offered cheaper, as long as the buyers accepted sponsored advertisements. This, too, could not stop the financial decline of the company.
Kazam reloaded Behind Wileyfox are the same investors who have tried the smartphone brand Kazam on the European market. The company is a European brand with headquarters and support in the UK. The smartphones are usually bar products made in China. According to self-reports, Wileyfox sold more than 500,000 units in 2016.
In a bankruptcy administration under British law, an outside party tries to save the company in financial problems. If this is not possible, the manager must ensure that lenders get back as much of their investment as possible. Such a procedure usually takes a maximum of 12 months.
Update: Confirmation by Wileyfox, more details.




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