Asia Tech Wire (May 27) -- Chinese smartphone maker Transsion Holdings has denied reports of a tax investigation in Kenya.

Earlier, there were reports that the Kenya Revenue Authority (KRA) had launched an in-depth investigation into Transsion, which involved tax evasion amounting to KES 400 billion (US$3.02 billion).

In response, the company said, "Upon verification, [we found] that the content of the article is a false and inaccurate report, and the company has not received any relevant allegations at this time."