Thanks to the ever-growing competition in the smartphone market, a lot of brands eventually decide on giving up. The latest to do that is the Vietnam-based smartphone manufacturer Mobiistar. New reports have emerged that suggest that the majority of the brand’s executives have already quit the company.
Farewell to Mobiistar
Reports suggest that the phone maker’s Group CEO, Carl Ngo, has gone back to Vietnam. Additionally, the CEO also kept the company’s business handling a secret to Mobiistar’s partners in the country. This news comes after Mobiistar’s sole local manufacturing partner, VSun Technologies, stopped manufacturing in India. Additionally, the latter also filed for bankruptcy in its home market of China on May 19th and fired its entire India staff the same day. This consequently led to the supply chain disruption for Mobiistar in the country.
Speaking about money, there are reports about Mobiistar not clearing its dues with marketing and distribution partners in India. In an email by Mobiistar’s Chief Marketing Officer Anruddha Deb, the report adds that the brand will pay off 50 percent of the outstanding dues to partners after the liquidation of inventory. However, approximately 50 percent of marketing partners of the brand that are still waiting for their payments have alleged that the company has stopped communicating with them.
End of line
As a result, Mobiistar has given up on its Indian operations. This is disheartening, considering it has been just a year since the company entered the Indian smartphone market. The last phone it launched was the Mobiistar X1 Notch, launched nearly 6 months ago. You can watch our first impressions of the device above. Also, make sure to stay tuned to Mr. Phone for all the updates in the smartphone world.