HTC Shuts Shop In South Korea

Taiwanese handset maker HTC has decided to pull out of South Korea following tough competition from local handset makers like Samsung.HTC’s market share in South Korea is only a meager 1% while local competitors like Samsung,LG and Pantech hold 90% of the smartphone market share.HTC has defended the move by saying that the pullout was made to streamline operations and improve efficiency.

HTC had also pulled out of Brazil due to sluggish smartphone sales.