Maker YotaPhone with e-ink screen has been declared bankrupt

Yota, maker of the YotaPhone has been declared bankrupt. The company could no longer pay its suppliers, causing it to go bankrupt. Yota is mainly known for releasing smartphones with a secondary e-ink screen.

The bankruptcy was pronounced in the Cayman Islands, where Yota is officially located, according to the Russian-language website iGuides. The originally Russian telephone maker had a dispute with supplier Hi-p Electronics, which supplied the e-ink screens for smartphones, because fewer screens were purchased than agreed. The company would like to see an amount of $126 million, which Yota could not afford, after which Hi-p Electronics filed a lawsuit. Yota then filed for bankruptcy, also because it had other creditors.

Yota is mainly known for the smartphones of the same name, which have a secondary screen of the e-ink type built in. The first model was released in 2013, with a Yotaphone 2 and Yotaphone 3 later released. The models have the e-ink screen on the back, and it is mainly intended to display static information.