Rugged Android smartphone maker Caterpillar has reportedly gone out of business. Bullit, which manufactures smartphones under the Caterpillar, Motorola Defy and Land Rover brands, is unable to continue operations due to debt burden with the majority of staff being laid off.
Bullit previously filed for bankruptcy in hopes of selling the rights to manufacture Caterpillar and Motorola Defy devices to generate cash. Bullit's future is still murky with the company not releasing an official statement at this point. The problem only came to light after many of their former employees released statements on LinkedIn according to a WinFuture report.
The past year and 2022 have been extremely challenging for global smartphone manufacturers. Post-pandemic demand is low, causing almost all producers to record production declines. Samsung fell to second place and was overtaken by Apple due to market factors. Even so, 2024 shows signs that the market will recover.
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