Chief of Distressed Phone-Maker Resigns as Firm’s Legal Representative

TRENDING: Unitree to Debut at 61 Billion Yuan Valuation in Closely Watched Shanghai IPO; U.S. Appeals Court Orders Review of Pentagon’s DJI Designation; Alibaba to Sell Gaming Unit as It Sharpens AI Focus

LATEST: U.S. Appeals Court Orders Review of Pentagon’s DJI Designation; Unitree to Debut at 61 Billion Yuan Valuation in Closely Watched Shanghai IPO; Alibaba to Sell Gaming Unit as It Sharpens AI Focus; China’s DJI and Arashi Vision Escalate Battle for 360-Camera Market; Didi Swings to Quarterly Profit, but Overseas Push Weighs on First-Half Results; Z.AI Pushes AI Model With Coding Edge to Rival Anthropic, Open AI; DeepSeek Launches V4-Pro and Raises API Prices by as Much as 1,100%; Tencent Shares Fall as AI Spending Squeezes Profit; Honor’s New Smartphone Doubles as a Robotic Camera Operator; YMTC Overtakes Kioxia by Shipments to Rank No. 3 in Global NAND Market; ModelBest Begins Pre-IPO Tutoring as On-Device AI Competition Heats Up; U.S. Proposes Ban on Domestic Drone Maker Over Alleged DJI Ties; Manus Cuts Ties With Meta as Tencent Emerges as Top Backer; Cautious Regulators Steer China’s Flying Vehicle Industry to Prioritize Cargo Over Commuters; Alibaba Opens Qwen Platform to Outside Developers in Push to Build AI-Agent Ecosystem; Moore Threads Plans Hong Kong Listing to Fuel AI Chip Push; Beyond the Backflips: Unitree Robotics Faces High Expectations Ahead of Shanghai Debut; ByteDance Accepts AI Gap, Sticks With In-House Models; MiniMax Shares Surge After Joining Hong Kong Stock Connect; Chinese Robotics Startup PokeBot Raises Hundreds of Millions of Dollars

By Tang Ziyi / Dec 12, 2018 05:02 PM / Business & Tech

Photo: VCG

The head of one-time smartphone darling Smartisan, Luo Yonghao, has stepped down as legal representative of the company, China News Service reported on Tuesday.

The news comes amid reports that nine stakeholders have pull their investments from Smartisan. Unconfirmed reports said the company was experincing a capital shortage and was laying off employees.

Wen Hongxi replaces Luo as legal representative, China News Service said. Luo and Wen were English teachers together years before Luo founded Smartisan.

Share this article

Open WeChat and scan the QR code