Life's getting tough for some Chinese smartphone manufacturers.
Bankruptcy rumours have been rife for a few weeks about one of the country's oldest phone makers, JiaYu.
But the company has now issued a statement saying it will stay in business with some substantial financial restructuring.
JiaYu's suppliers of batteries and screens have now injected cash into the company and will become part of a new bigger group.
Many Chinese phone manufacturers are now riding on the crest of a cash wave as their products gain popularity around the world, substantially undercutting the prices of established global brands like Samsung, HTC and Apple.
But JiaYu has concentrated on its home market in China and has failed to expand to other areas.
Here's the JiaYu statement:
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