The company behind the Turing Phone files for bankruptcy

The company behind the Turing Phone files for bankruptcy
It appears that Finnish company Turing Robotics is in deep financial troubles if we are to believe the latest reports coming from Finland. After announcing a $1 billion deal with Potevio, a company owned by the Chinese state, for the distribution of the Turing Phone in the biggest smartphone market, TRI (Turing Robotics Industries) has now filed for bankruptcy.

A Finnish newspaper reports creditors have filed a claim with the company in 2017 and all movable property belonging to the company has already been seized.

Although everyone hoped TRI will start to deliver the Turing Phone to customers who placed pre-orders this year, it looks like financial issues might prevent it from doing that for the moment.

The company's CEO, Syl Chao released an official statement to minimize the damage and assure customers they will eventually get their devices:


The Turing Phone was supposed to be world's most secure smartphone back in 2015 when it was announced for the first time. In the meantime, Turing Robotics dropped Android 5.0 due to security concerns and decided to include Sailfish OS on its smartphone.

Pre-orders for the Turing Phone start at $610, depending on the amount of storage the customer chooses. It's yet unclear what will happen with customers who've already paid for the Turing Phone but did not receive it.

source: Turing Robotics (Facebook), Metropolitan.fi via AndroidCommunity

FEATURED VIDEO

5 Comments

1. makatijules

Posts: 835; Member since: Dec 11, 2017

This is the hard thing about trying to support kickstarter-like programs. You have to go in knowing you may get nothing out.

5. audibot

Posts: 590; Member since: Jan 26, 2017

great design just too much money to get it rolling should have partnered with a larger company samsung or google would have been amazing

2. Paximos

Posts: 279; Member since: Jul 26, 2012

"A recent news about TRI's Salo company filing for bankruptcy may have sent an uneasy feeling to some of you. We want you to know that this filing was initiated to temporarily suspend our manufacturing intentions in Salo, however, it doesn't mean that TRI is bankrupt. We will be posting the latest developments concerning the future of TRI in the coming weeks"......NOW that puts me at ease...

4. An.Awesome.Guy

Posts: 636; Member since: Jan 12, 2015

I don't understand a lot about economy and if someone who knows better can correct me then I would be glad but I remember that General Motors, a very huge and big American Car company filed for bankruptcy and because of that the government hold it until later the company standed on its feet, as filing for bankruptcy may means the company is going to bankrupt but not yet there ,and the company ows no money to anyone yet.

* Some comments have been hidden, because they don't meet the discussions rules.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.