Coolpad warns that will end the year with significant losses

The company Coolpad, one of the largest Chinese manufacturers of smartphones, this year will complete losses. According to the forecast of the manufacturer, the net loss will be nearly 390 million dollars. For comparison: last year, Coolpad managed to get 300 million dollars in profits.

The manufacturer acknowledged that sales of the main products for the period from January to October decreased by 43% compared to the same period last year. The result of the mobile unit was unprofitable. Loss accompanied by business online Commerce Coolpad E-Commerce.

According to the source, the situation is aggravated by rumours of financial problems LeEco — largest shareholder Coolpad, which owns 28.9% of the shares of the company.

Source: Digitimes



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