Due to the severe competition from its Korean competitors Samsung, LG and Pantech, HTC Quietly left Korea.
Fighting against domestic information and technology giants such as Samsung, Taiwanese smart phone manufacturer HTC has closed its doors in South Korea.
The smartphone producer has long battled against low mobile phone sales volume in the Asian country, and has eventually bitten the bullet and shut down} its South Korea office.
Based on an official declaration, the move may be made to be able to "streamline operations" as well as improve efficiency over the whole company. "This is a tough decision that offers direct impact on those who have contributed to the actual growth HTC has experienced in the last several years, " the organization said in the statement.
Redundancies weren't specifically mentioned through HTC, although it said it's encouraged employees to use for other open vacancies inside the company, according in order to reports.
An analyzer with research organization Canalys, Nicole Peng, told PC Globe that South Korea remains a hard market for international vendors to break into and build a powerful customer base. Based on the analyst, HTC had the 2 percent share from the smartphone market in the South Korea last year, but only 1 percent in 2012's very first quarter.
In assessment, Korean vendors such as Samsung, LG and Pantech possess secured 90 percent from the market.
"They (HTC) have to purchase the more obvious opportunities for the short term, " she informed the publication. Rather, perhaps the organization should turn it's gaze to rising markets in The far east, where HTC's lower-end mobile phone models -- the "Kewang" series -- premiered earlier this 12 months.
In June, HTC additionally closed its primary Brazil office, departing only an after-sales workplace -- after it's smartphone market reveal dropped to below 1 percent.
HTC's profit margins took a beating recently, as competition along with dominant smartphone marketplace players such as Samsung and Apple has been on a brand new intensity. Despite the positive reception from the newly-released HTC 1 series, it is actually unlikely to compete against the Samsung Universe S III in sales figures.
