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HTC looking to exit Chinese smartphone market: Report

IANS  |  Taipei 

Taiwanese recent decision to pull its phones from two of China's largest strongly suggests that it is perhaps looking to exit the Chinese market.

"Due to the consideration of China's long-term business strategy, we will temporarily close the mobile phone Jingdong flagship store and Tmall flagship store.

and accessories can still be purchased through HTC Mall and We will continue to provide quality pre-sales and after-sales service as always," HTC announced on Weibo, according to the Central.

Jingdong and Tmall are two of China's largest e-commerce sites, so this would essentially be like a company deciding to stop selling its phones on and B&H in the US, the report added late on Friday.

For now the player is still selling devices through its own store as well as the VIVE flagship physical store in

However, the former doesn't have devices such as the U11 or U11+ in stock anymore, so it may not be long until that gets shutdown too.

The Taiwanese maker had a rough 2018 when its revenue dropped to an all-time low.

According to the handset maker's year-end 2018 numbers, it took in just NT$23.74 billion (or $770 million) during 2018, the lowest in all its years as a public company.

A year ago, rumour mills were abuzz that giant would acquire HTC but the former ended up just buying team in a $1.1 billion deal.

According to the deal, over 2,000 HTC engineers are moving over to

and VR division were reportedly not affected, but a substantial majority of the smartphone R&D team went on to join

--IANS

ksc/mag/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 11 2019. 12:24 IST
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