HTC Is Exiting the Indian Smartphone Market

HTC has been struggling a lot lately, with their sales dropping to an all-fourth dimension low. India, which is the biggest market for smartphone manufacturers, has seen itself being largely dominated past Chinese giants such equally Xiaomi, Honor, and OnePlus. As information technology result, it has prompted HTC to telephone call it a day on the Indian smartphone market.

As reported by Economical Times, HTC is finally exiting the Indian market, following the ascent of the Chinese brands in the subcontinent.

HTC Bharat's top management, which includes country head Faisal Siddiqui, sales head Vijay Balachandran and product head R Nayyar, have all submitted their resignations, as stated past 3 senior executives in the visitor.The visitor has also asked its lxx-eighty member team to leave with a few exceptions such as master financial officer Rajeev Tayal. It is also snapping all distribution agreements in the state after halting local manufacturing for most a year now.

That being said, HTC isn't demolishing the Indian business completely, but instead, will function as a minor entity. "It plans to sell virtual reality devices online with Taiwan completely decision-making Indian operation. This will be like an extremely pocket-size business." Additionally, at that place are plans of the visitor inbound the market every bit an online-only make, which remains bailiwick to the company being able to turnaround sales globally.

However, dissolving the company is not going to exist that easy for them, since HTC has a lot of troubles headed their way. A lot of distributors planning to take legal activeness for non-payment of dues and non compensating for the stock in trade pipeline, with people stating that "HTC owes money in several crores".

In a response to this, an HTC spokesperson said that they are aware of the potential dispute. "Nosotros are working with channel partners to ensure no disruption on business and service to our customers".