YotaPhone Looking To Raise $100 Million For Global Smartphone Rollout

Russian smartphone manufacturer YotaPhone are currently in discussions in an attempt to raise $100m to contribute to speeding up the global rollout of a new smartphone device that will also be an e-reader. YotaPhone unveiled its first major mainstream device on Wednesday and it will be sold in 20 countries.

YotaPhone

YotaPhone’s new smartphone has unique features. It has a major different feature than any other device we have seen. It is also an electronic paper and has an “e-ink” display on the rear of the device which lets the user display books and magazines and can also show emails and texts and also initiate phone calls.

YotaPhone 2 Handset

Vlad Martynov, YotaPhone’s CEO said “This is a new category in the smartphone market,” He also then confirmed that YotaPhone were in discussions with investors in various countries to attempt to raise a target fund  of $100m which would help accelerate the launch of the new smartphone on an International scale.

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