HiPhi has recently received a strategic investment from a Hong Kong-based organization that will help it resume operations and production, which could happen in late April or early May, according to local media.
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Avatr has approached HiPhi and may have struck a partnership deal, with the two now reorganizing their teams, according to local media.
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HiPhi began production halt on February 18 -- the first working day after the Chinese New Year holiday -- sparking fears about its fate.
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Ding Lei said that he was using old-fashioned business strategies and was no match for his counterparts from Internet companies. He also said that there have been companies expressing interest in HiPhi, including acquisitions and investments.
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Employees will be paid as usual until February 18, and after March 15 only HiPhi employees in Shanghai will receive basic pay, according to local media.
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Rumors on Chinese social media said HiPhi will lay off up to 20 percent of its workforce and up to 50 percent in some divisions.
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