Taiwanese electronics company HTC shut down its official Chinese community forum today, a move that confirms its exit from the Chinese smartphone market.
HTC confirmed that the company will conduct a new round of layoffs, the Taiwanese mobile manufacturer did not disclose specific details of the layoff plans.
CEO of HTC Yves Maitres said that the company plans to gradually transition its innovative focus away from hardware and towards virtual reality (VR) technology.
Last week, a new budget smartphone model numbered HTC 2Q72XXX with a Snapdragon 435 chipset, received Bluetooth certification and was unveiled at Wifi Alliance on Nov. 12.
On Oct. 13, HTC officially announced that it will release its first blockchain-powered smartphone HTC Exodus on Oct. 22, with details yet unrevealed.
Here's this week's roundup of China tech stories.
On July 2, Taiwanese mobile manufacturer HTC announced its plan to lay off 1,500 people as part of a strategic restructuring in Taiwan.
HTC has been unprofitable for 15 consecutive quarters. Still, some bright spots include when HTC surged after a loss record in Q4 2017.
Google announced it purchased the Pixel HTC intelligent mobile phone team for $1.1 billion.
An army of Chinese brands led by Xiaomi has come to dominate the domestic smartphone market. SONY, Samsung, Blackberry and a large number of overseas brands have become its victims. Foreign media reported that Samsung's smartphone market share in China fell to 2 percent in Q3, putting it in ninth place.