Turing Robotic Industries now in bankruptcy
The would-be maker of the world’s first “liquidmorphium” is now going into liquidation itself.
Turing Robotic Industries announced on its Facebook page that it has filed for bankruptcy. The Finnish company’s CEO, Syl Chao, claims that it is not insolvent, that the motion was to stall manufacturing at a local factory and that staffers should not worry.
The company launched in 2015 and failed to deliver on a phone made out of “liquid metal” after having taken money for orders. It made a Sailfish OS phone in 2016. It also promoted a dual-Snapdragon chipset device that it never moved on and, most recently, was having trouble with its high-end Appassionato phone, which it partnered with original device manufacturer TCL to produce. Again, orders were taken, but nothing was shipped.
Salon Seudon Sanomat reported that TRI’s rent for the Salo office was in the tens of thousands of Euros every month and that the company had dedicated €2 million to paying off some. The remainder of the lease will be settled with guarantors of the deposit.