HTC, the premium handset brand, is leaving the Indian market, turning into the first primary victim of the Chinese raid in the smartphone market of India. Top management of HTC India, comprising Vijay Balachandran (the sales head), Faisal Siddiqui (the country head), and Nayyar (the product head), have applied for the resignation, claimed three senior officials to the media in an interview.
The firm has asked its team of 70–80 members to leave with a few exemptions such as Rajeev Tayal (the chief financial officer). It is also quitting all distribution deals in the nation after stopping local production for nearly a year now, they claimed.
The Taiwanese company, on the other hand, is not yet ceasing the Indian process entirely. “It aims to trade virtual reality gadgets online with Taiwan entirely managing the Indian process. This will be similar to a very minor business,” one of the officials claimed.
One more official claimed that HTC might look at re-entering smartphone market of India as an online exclusive service. But this will only be possible after it is able to turnaround sales all over the world as the brand is grappling in various markets. “For now, it is giving up,” he claimed.
A spokesperson of HTC claimed that the firm will carry on selling its handsets in India. India being a significant market for the firm, HTC will carry on investing in the nation in the correct sectors and at the correct time, he claimed to the media in an email response.
On a similar note, the latest cut off in labor force in the Indian office is planned to more suitably reflect regional and local market situations, and will help HTC more efficiently approach into a new phase of innovation & growth, the spokesperson claimed. “There are still over 10 workers in the Indian office offering complete functionality,” he claimed.