Brazilian business magazine Exame reports that the Taiwanese smartphone company HTC is closing down its operations in Brazil. The company informed all its employees by sending a statement about the news and massive layoffs. The company has been losing market share in the country since from the time it stopped producing the products locally.
The low popularity of the brand with a competition against rivals such as Samsung, LG and Nokia making it difficult for the company to sustain and make it place in the country, which is now resulting into closing down its operations in Brazil, which employees few dozen people.
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