50 Billion RMB Exhausted, OPPO’s Chip Company Goes Bankrupt, 3,000 Senior Staff Are All Laid Off

On May 12th, a news came out from OPPO, a Chinese mobile brand, announcing the closure of their chip design company, Zeku, and the dissolution of the chip project department which had received an investment of 50 billion yuan. Over 3000 masters and PhDs from top universities at home and abroad were all laid off.
OPPO indeed holds a relatively large market share both domestically and internationally, thus having strong influence in the industry. Over the years, among Chinese mobile phone brands, OPPO has been developing chips in-house with significant investments and determination. However, the sudden decision to abandon this effort has caused a huge stir domestically.
OPPO's official explanation is that, in the face of uncertainty in the global mobile phone market, the company has decided to terminate the Zeku business after careful consideration.
#oppo #chips #chinaeconomy #chinaobserver 
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