ROMOSS Denies Bankruptcy Rumors Amid Safety Concerns and Industry Challenges

The denial came after reports emerged that the company had suspended production and informed employees to stop work, with salaries only paid up to June. Additionally, there were changes in the company's legal representative, with Lei She Xing stepping down and being replaced by Lei Xing Rong just two days prior. The rumors of bankruptcy were likely fueled by the company's recent struggles, including a major recall of its power banks due to safety concerns.

In June, ROMOSS and another major power bank brand, ANKER, announced recalls of over 490,000 and 710,000 units, respectively, setting a new record for the largest power bank recall in China. The recall has raised concerns about the company's future prospects and the challenges facing the power bank industry. As one of the most well-known power bank brands in China, ROMOSS's situation has sparked widespread concern among consumers and industry observers.

The power bank industry as a whole is facing safety concerns, with the involvement of Amperex Technology's battery cells being investigated by relevant authorities. The price competition within the industry has led to safety issues being pushed to the edge. Some merchants have been found to label 5000mAh power banks as 20,000mAh, highlighting the lack of transparency and potential for deceit in the industry. The cost of producing a 20,000mAh power bank can range from 35 to 45 yuan, depending on the quality of the battery cells used, but some power banks are sold online for as low as 9.9 yuan, making it difficult for consumers to distinguish between genuine and counterfeit products.

The recent recall of power banks by ROMOSS has brought attention to the safety issues surrounding these products. The company's decision to recall over 490,000 power banks due to potential safety hazards has raised concerns among consumers. The incident has also highlighted the need for stricter regulations and quality control measures within the industry to ensure the safety of consumers. Despite the company's reassurances, the incident serves as a reminder of the importance of ensuring product quality and safety in the industry.

The future of ROMOSS remains uncertain, despite the company's denial of its alleged bankruptcy. While the firm has reassured the public that it is still operational, the underlying issues with product quality persist. Furthermore, the industry as a whole must address safety concerns, and consumers must prioritize the safety of portable chargers. The recent recall of ROMOSS and ANKER products has highlighted the importance of ensuring that these devices meet stringent safety standards. As the company works to rectify its internal issues and prepare for new product releases, it is crucial that it prioritizes transparency and communication with its customers and stakeholders. The leadership change may signal a new direction for the company, but it remains to be seen whether this will be enough to restore consumer trust and confidence in the brand. Ultimately, the incident serves as a reminder of the need for vigilance in the consumer electronics industry, where safety and quality must always be paramount.