HTC Halts Operations In India After Poor Sales and Declining Revenue Share

The Taiwanese brand HTC has officially become the first victim of the Chinese invasion in the Indian smartphone market. Three top management officials have formally said that the company is going to halt its operations in India entirely and will transition into a small business entity. The 70-80 member team of HTC has been dissolved entirely except for Rajeev Tayal who has been asked to hold ground. In addition to that, about ten employees in total are running the entire company as of now. Top management of the company including country head Faisal Siddiqui, sales head Vijay Balachandran and product head R Nayyar have all put in their papers.

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One of the officials said about HTC, “It plans to sell virtual reality devices online with Taiwan completely controlling Indian operation. This will be like an extremely small business.” This news was reported Economic Times.

Another HTC spokesperson highlighted that HTC wouldn’t entirely give up in the Indian market since it remains a strong demographic to sell to, for the company. However, it might stay in the subcontinent in an exclusively online way. To ET’s queries, she responded by saying that HTC will continue to invest in the right segments at the right time.

Another official said that the massive lay-off in HTC would enable the company to transition into a new stage of innovation and growth. He also highlighted that India is not the only market where the company is struggling, the situation in India is a reflection of other HTC markets as well.