Neonode Files for Bankruptcy
Neonode AB, maker of the N2 handset and a wholly-owned subsidiary of Neonode Inc., has filed for bankruptcy protection in Sweden. The N2 is a small, touch-based handset for GSM networks. Neonode's CEO said, "For the past six months we have focused on turning the business around and solving the financial situation of Neonode AB. We continue to have great belief in our technology and believe we have a competitive product in the Neonode N2 but without sufficient funds we cannot continue operations." This makes the future of the N2 and any subsequent products uncertain.
Turing Robotic Industries Declares Bankruptcy
Turing Robotic Industries, a company that promised to create a sleek, secure smartphone nearly three years ago, has moved into insolvency. TRI was located in Finland and formed by some ex-Nokia employees.
LeEco Buys Vizio for $2 Billion
LeEco today announced plans to acquire Vizio for $2 billion. LeEco is a China-based TV, content, and phone maker, while Vizio is a U.S.-based TV maker.
Ailing LeEco Will Layoff 325 U.S. Employees
LeEco today said it will largely erase its corporate presence in the U.S. as it refocuses its efforts here.
Sprint to Sell Rubin's Essential Phone As an Exclusive
Essential Products has found a U.S. carrier to distribute its Essential PH-1 handset, and that carrier is Sprint.