UK smartphone brand Wileyfox is reported to have done a deal with STK which will see it live on, having called in the administrators earlier this year.
STK, another UK smartphone maker which is owned by distributor Santok, apparently acquired Wileyfox’s UK business and will continue its operations. This also includes honouring existing Wileyfox warranties on devices sold to consumers.
Wileyfox got caught out when one of its backers – Russian bank Promsvyazbank – ran into trouble, leaving it unable to continue funding the smartphone maker. However, Wileyfox was also working in a competitive market, against a number of deep-pocketed rivals.
Henri Salameh, commercial director of STK, said Wileyfox was “playing at a slightly higher price point and was a stronger online presence”, and bringing the two together will provide boosts in areas including production, sales reach and customer service, TechRadar reported.
Mobile News cited Jay Pau, CEO of STK as saying: “Today’s mobile industry is highly saturated, and consolidation is essential to reinvigorate growth and balance.”