Caixin
Mar 12, 2018 06:59 PM
BUSINESS & TECH

Cash-Strapped Gionee in Talks With Potential Investors

A worker sits at a Gionee mobile phone assembly and testing workshop in the southern city of Dongguan, Guangdong province, on April 14. Photo: VCG
A worker sits at a Gionee mobile phone assembly and testing workshop in the southern city of Dongguan, Guangdong province, on April 14. Photo: VCG

Second-tier smartphone-maker Gionee Communication Equipment Co. Ltd. has told Caixin Global it expects to see an injection of funds soon to resolve its financial troubles.

“We are indeed talking to potential strategic investors regarding fundraising, but not Hisense,” a company spokesman told Caixin Global, declining to offer further details.

The remarks came as Chinese media outlets reported that Hisense Co. Ltd., a major maker of appliances and electronics based in Qingdao, Shandong province, is expected to acquire Gionee.

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