HTC Closes South Korean Office After Getting Obliterated in Local Sales
July 30, 2012 1:30 PM
Office is third to be closed in last two months
Taiwan's HTC Corp. (
) is one of the largest Android phonemakers in the world, but the company has
fallen out of contention
for the lead as the smartphone market has
evolved into a "two-horse" race
between South Korea's Samsung Electronics Comp., Ltd. (
) and American device-maker Apple, Inc. (
Amid falling profits HTC has been forced to make cuts. Today it
one of those cuts -- the closure of its South Korean office.
HTC remains a player in the U.S. in terms of market share, but in South Korea it owns only a tiny 1 percent sliver of the market. That number is actually down from the 2 percent it held in the country last year.
Samsung obviously tops South Korean sales charts, but LG Electronics Inc. (
) also has been
. And Pantech Comp., Ltd. has also proven an emerging threat on the market. Together LG, Samsung, and Pantech own 90 percent of South Korea's sales, with foreign handset makers like Apple eating up the remainder.
HTC has closed several offices as part of a downsizing plan. [Image Source: Reuters]
HTC in June
its Brazil office, another weak sales region. Like in South Korea, in Brazil HTC only held 1 percent of the market. HTC has encouraged employees from both offices to apply for a transfer to other regions.
Also in June HTC closed the doors of a research office
in Durham, North Carolina
, releasing approximately 50 employees.
The company has faced extra pressure in recent months
from a weak Euro
and from strong sales of Samsung's best-selling Galaxy S III smartphone, which launched in late June to international acclaim.
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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