First casualty of Chinese invasion! HTC hangs up on India smartphone operations - ET Telecom
Premium smartphone brand HTC is exiting the Indian market, becoming the first major casualty of the Chinese invasion of Indian smartphone market.
The company has asked its 70-80 member team to leave with a few exceptions such as chief financial officer Rajeev Tayal. It is also snapping all distribution agreements in the country after halting local manufacturing for almost a year now, they said.
The Taiwanese firm, however, is not yet dissolving the Indian operation completely. “It plans to sell virtual reality devices online with Taiwan completely controlling Indian operation. This will be like an extremely small business,” one of the executives said.