Sirin Labs Lays Off Staff as Blockchain Phone Sells Poorly2

Tel Aviv-based smartphone startup Sirin Labs has laid off one in four of its staff following worse-than-expected sales of its blockchain phone, reports Israeli business newspaper Globes.

“Consumers need a product that gives them confidence their data is safe,” Sirin Labs chairman Kenes Rakishev told the Jerusalem Post back in December. But if consumers do need such a product, they must have found it elsewhere. “Sales are not what we expected,” the company told Globes.

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