HTC is, of course, the popular Taiwanese manufacturer of smartphones. The struggling company’s decision to leave the Indian smartphone market hasn’t come across as a surprise to many, and was reflected in the top management’s interview with The Economic Times recently.
HTC’s local manufacturing units in India have been closed for a year now. A number of employees have been asked to leave the company and search for other jobs as the fate of the company in India remained uncertain. The company also terminated the distribution agreements with the dealers and the retailers in the country. It sums up the troubling times the manufacturer has been facing. We covered HTC’s troubled journey in a separate post here.
Heading over to VR
HTC has meanwhile stepped into the virtual reality market. Officials have said that the sale of HTC virtual reality devices will continue in India. But the entire operation will be overlooked by the headquarters in Taiwan itself. When asked about the return of the company to India, the officials said that there could be plans to make the phones available online and not in the offline stores. However, this plan is not certain at all. There are still many dealers and retailers who have the stocks of its handsets. HTC has said that smartphone sales in India will continue until the stocks last. No new units will be shipped anymore.
One of the major reasons which led to the exit of the company from the country was heavy competition from leading technology giants such as Apple and Samsung. HTC had been operating in the segment which aimed at producing only the flagship phones. The phones were a pricey keeping in mind the target audience. At the same time, Samsung came up with different models at a lower price and nearly similar features. People interested in buying the flagship phones went on to purchase Apple’s iPhone.
In the recent years, the Chinese manufacturers such as Samsung and OnePlus have also made a pretty good market in India. The market share of HTC in India is now less than 1%. Even though the company kept launching new smartphones in the Indian market, each model kept failing due to high prices, limited features and other options such as OnePlus, Samsung and Apple available. Other upcoming brands such as Oppo and Xiaomi (of which Cashify is an exclusive exchange partner) have also started gaining huge popularity.
If you’re an HTC user, it may be a good time for you to sell your used HTC smartphone before its resale value dips further.