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As India toughens its stand on Chinese smartphone brands, Shenzhen-based Honor, formerly under Huawei, has pulled out its team from the country.
According to South China Morning Post, the company's business in India will remain in operation, managed by local partners, but the brand will adopt a "very safe approach."
Honor CEO Zhao Ming told state-run newspaper Securities Times that
Honor formed the India team a few years ago but chose to leave for "obvious reasons".
The development came as Indian authorities like the Enforcement Directorate (ED) and Directorate of Revenue Intelligence (DRI) have conducted raids and investigations of major Chinese smartphone players like Vivo, OPPO and Xiaomi.
Struggling to keep its consumer business afloat in the wake of the US sanctions, Chinese conglomerate Huawei in November sold off its Honor smartphone business assets to China-based Shenzhen Zhixin New Information Technology Co Ltd.
Honor smartphones were hit by US sanctions that prevent Huawei from doing business with the US companies.
Since its creation in 2013, the Honor brand has focused on the youth market by offering phones in the low- to mid-end price range.
In the next seven years, Honor developed into a smartphone brand that shipped over 70 million units annually.
In India, Honor had entered the laptop market and expanded its wearables portfolio in the country.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, July 26 2022. 10:19 IST