Floundering smartphone maker Smartisan has raised RMB 1 billion (around $150 million) in fresh funding, the company’s charismatic founder and CEO Luo Yonghao disclosed at Geek Park’s Rebuild 2017 conference.

The former English teacher and now internet celebrity did not disclose the participating investors but did reveal that the new funding will allow the troubled smartphone maker to ship five to six products every year to cover low- to high-tier markets

At the same occasion, Luo also shared the painful experience that Smartisan team has gone through in their “hardest time” in 2016 when the company was on the verge to collapse and almost got acquired by Xiaomi (in Chinese).

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.