Comio Registers Police Complaint, Files For Closure

As first reported by TeleAnalysis earlier this month, Chinese smartphone brand Comio is shutting down its business in India. Attributing to tough competition in the market, and majorly blaming its parent firm Topwise Communications, Comio has informed its employees and partners that the firm is closing its operation.

In a letter to its employees, Comio CEO Sanjay Kalirona said that it has also informed the concerned government authorities about the closure of the business.

“We have filed police complaint and also informed all government regulatory authorities about present situation of the company and waiting for their directions,” Kalirona wrote in the letter. A copy of the letter in the form of an email has been reviewed by TeleAnalysis.

On 12 November we reported that Comio is closing its business operations attributing the information to some inside sources as well as channel partners and distributors. We had reported that lack of support from its Chinese partners has forced the company to take this drastic step.

Comio Sanjay Kalirona also reasoned the same in his letter.

“It is our bad luck that our parent Chinese company could not give us right products at right time  as per market requirements,” he said.

“Worst part has been quality issues faced by us in most of our models and Chinese company did not learn from their mistakes and kept repeating same and conclusion is most partners, retailers, consumers started loosing confidence in the brand,” he added. “Chinese promoters also did not support us with enough  capital investment to sustain in the competitive market condition.”

“The Chinese want to close it by November (2018) but the India management has asked for more time because of huge unsold stocks,” said a source, one of the biggest distributors in the Western region for Comio India.

According to him, stocks worth Rs 200 crore is lying with the distributors across the country and are not selling as expected.

We cross checked with Comio’s distributors in other regions including South, North and East and found them to be in line with their Western counterpart.

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