Honor moving team out of India for 'obvious reasons,' says CEO
Chinese majority state-owned smartphone company Honor is pulling its team out of India, CEO Zhao Ming has confirmed.during a launch event on Thursday that the reasons for doing so were"obvious." He did not clarify further but geo-political tensions continue to bubble between Beijing and Delhi.
The business in India will be operated by local partners, with a"very safe approach" said Zhao, who claimed the Indian market had maintained profitability., and had once been widely geographically distributed. In October 2015, the company was on course to generate $5 billion in revenue, representing a doubling of products sold globally y-o-y.
"India is the most important market for us and over 300 engineers are working on the brand from India's research and development centre in Bengaluru," then vice-president of Honor international business Zhao GangHonor, which sells low to mid-range handsets, peaked in India in 2018 with a 3 percent market share. According to Canalys, vendors have been struggling with
for low-end models, a tricky situation when the mid-to-low-end segment are India's biggest sales segments.
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