Became known the reasons for the delay in the market launch of the YotaPhone 3, developed by Yota Devices. This, in particular, said the head of state Corporation “rostec” Sergey Chemezov in the air “Russia 24”.
“The Chinese company that bought our private partner stake in Yota Devices, Creator of YotaPhone manufacturer, initially showed great interest in… But today, unfortunately, the Chinese are not very active then there are. Although our company Yota Devices has already created a third version of the YotaPhone, but we have not yet found and our main shareholder the Chinese while this facility does not emit”, — said Chemezov in an interview.
Chemezov said that funds had been allocated by the Chinese shareholder of Rex Global Entertainment, which in April last year bought 30% of Yota Devices. However, in the beginning, Chinese owners showed interest in the YotaPhone.
In the spring of 2016 the Hong Kong investment Fund Rex Global Entertainment (later renamed the China Baoli Technologies) bought a 30% stake in Yota Devices partner Rostec Fund Telconet Sergei Adonyev and albert Avdalyan, for $46 million China Baoli as part of the deal acquired the rights to the intellectual property, Yota Devices in China for 7 years.
Management representatives of Yota Devices in the autumn of 2015, the year promised to release YotaPhone 3 until end of 2016, talked about plans to put up to 1 million devices worldwide. The company still argue that the development device is not stopped.
In September last year it was reported about the mass layoffs in the finish-Russian team Yota Devices and transfer development in China. Representatives of the company, which was headed by Dmitry Moiseev is Vladislav Martynov (Martynov left behind just a seat in the Board of Directors), denied this information. At the same time, they recognized “the rotation of the Finnish team” and that “forced briefly to say goodbye” with some employees of the operating unit.
Later, from an open letter to Martynov became known that the company has indeed faced a number of problems: the Chinese partner delayed implementation of various commitments and insisted on the postponement of further developing YotaPhone 3 in China. In the same letter, Martynov said that together with Rostec and Telconet is working to preserve “the Russian team and the Russian roots” Yota Devices.
Note that at the moment rostec owns a blocking stake in the producer of the YotaPhone.