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Gionee CEO gambles away his company at a casino

Company is in billions of dollars of debt

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Does anyone remember Gionee? Two years ago, the Chinese smartphone company promised the world’s most jam-packed phones. Whereas the world lived firmly in 2017, Gionee looked towards the future. Despite a lack of popularity, the company showed promise.

Over a year after the Gionee explosion, the company has seemingly lost its magic. Gionee has ceased making headlines, settling for meager sales in smaller markets. Now, they have finally fallen off into the deep end.

Currently, Gionee is facing potential bankruptcy. After churning out phone after phone, the company owes a ton of debt to its suppliers, agencies, and benefactors. At the time of this writing, the total debt already hovers around CNY 17 billion (or around US$ 2.5 billion).

Reportedly, the company already settled with its major partners. However, hundreds of others have not seen a single yuan yet. Twenty of which have already filed lawsuits against the company, clamoring for reorganization or liquidation.

To Gionee’s dismay, the company’s troubles are far from merely operational. Gionee chairman Liu Lirong has confessed to gambling company funds at a casino. The chairman apparently lost CNY 1 billion in the process. Laughably, Liu defended his choice. “I personally have no other income. It is inevitable that there will be some public and private activities, funded by the company,” he said in Chinese.

While a billion yuan is only a fraction of Gionee’s total debt, Liu’s gambling habits have cost trust as well. (Other reports have even upped this estimate to CNY 10 billion.) Gionee’s officials have, unsurprisingly, asked for his resignation.

Because of this brouhaha, Gionee is in disarray. The company’s future lies in the courtroom. If the company liquidates, another Chinese smartphone company bites the dust.

SEE ALSO: Gionee M7 gets FullVision display and dual rear cameras

Enterprise

ACMobility Launches ChargeFleet: Seamless solution for businesses

B2B solution for corporate fleets and transport groups

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Ayala Group’s ACMobility has launched ChargeFleet, a new B2B digital solution for corporate fleets and transport groups.

The new service introduces a shareable digital wallet that streamlines charging expenses, reduces manual tracking, and improves cost control.

As more organizations explore electrifying their mobility operations, many continue to face operational challenges — including fragmented payment systems, reimbursement delays, and limited visibility over charging usage.

ChargeFleet addresses these gaps by introducing a centralized, shareable digital wallet. Here, fleet managers can allocate and monitor charging credits across multiple drivers across a single platform.

The system is a seamless process designed for long-term usage and easy deployment across any organization.

Once integrated, ACMobility assigns charging credits to the client’s fleet manager. The manager then can distribute these to multiple drivers. Meanwhile, the latter will be able to see and use their assigned credits via the Evro app.

ChargeFleet is available as a prepaid product through the ChargeFleet Store. Users can buy offers via GCash or credit card. No application process is required.

Looking ahead, ACMobility will continue to enhance the ChargeFleet experience with exclusive value-added perks integrated through Evro and Power on Wheels.

The upcoming features highlight ACMobility’s ongoing push to provide a future-proof support system for the evolving needs of their customers’ businesses.

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Sony teams up with 13 companies for sustainable global supply chain

Sustainability through introduction of renewable plastics

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Sony WH-1000XM6

Sony, along with several companies, have established the world’s first global supply chain for the production of renewable plastics that can be used in Sony’s high-performance audiovisual products.

The supply chain consists of 14 companies across five countries and regions. The various plastic materials manufacture through this supply are slated for use in Sony’s products that will launch worldwide.

High-performance products such as audiovisual equipment involve a wide variety of plastics. The result is a complex supply chain that makes it difficult to visualize and manage the entire flow.

Additionally, plastic components that require high performance in terms of flame resistance and optical properties cannot be fully replaced with plastics from material recycling.

To address these challenges, these 14 companies have collaborated to visualize the existing supply chain for Sony’s products:

  • Sony Corporation
  • Mitsubishi Corporation
  • ADEKA CORPORATION
  • CHIMEI Corporation
  • ENEOS Corporation
  • Formosa Chemicals & Fibre Corporation
  • Hanwha Impact Corporation
  • Idemitsu Kosan Co., Ltd.
  • Mitsui Chemicals, Inc.
  • Neste Corporation
  • Qingdao Haier New Material Development Co.
  • Ltd., SK Geo Centric Co., Ltd.
  • Toray Industries, Inc.
  • Toray Advanced Materials Korea Inc.

Sustainability through renewable plastics

The new supply chain created will enable the production of multiple types of renewable plastics from biomass resources with a mass balance approach.

This allows Sony to proactively source raw materials for its products with quality, as well as properties equivalent to virgin fossil-based plastics.

Defining the supply chain also helps the companies track and document GHG (Greenhouse Gas) emissions data in a verifiable way.

This allows participating companies to leverage the data to advance efforts to reduce their carbon footprint going forward.

Sony’s initiative with a wide range of global partners is part of the “Creating NEW from reNEWable materials” jointly launched by the electronics giant and Mitsubishi.

It aims to achieve zero usage of virgin fossil-based plastics through the introduction of renewable plastics.

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Enterprise

realme is reportedly going back to being an OPPO sub-brand

All scheduled phones will still launch on time, though.

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A popular story among Chinese smartphone brands is whenever a sub-brand spinning off into its own independent entity. A less common one is when an independent entity suddenly merges back into the main entity. And yet, that’s the story we have today. realme is reportedly going back to being a sub-brand of OPPO.

If you don’t remember realme’s time as a sub-brand, then it’s hardly your fault. It’s been a long while since realme was considered a sub-brand. In 2018, the brand spun off on its own to form one of the most popular names in the Chinese smartphone space.

Today, via Leiphone, realme will return to OPPO as a sub-brand. Current realme CEO Sky Li will still retain his responsibilities heading the brand. Plus, all products on the current release schedule will still come out as planned.

However, starting this year, realme will start reintegrating back into OPPO, particularly through the latter’s after-sales programs. OnePlus will also follow the same structure going forward.

Currently, realme has not officially announced the move. That said, we also don’t know how the brand will address the reported change. It’s possible that the shift is just internal and has no effect on how the brand faces the public. For now, only time will tell.

SEE ALSO: realme C85 with 7000mAh battery, 5G connectivity officially launches

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