HTC denies report that it is closing up shop in India

Earlier this month, we told you that HTC's deteriorating financial condition is forcing it to fire 25% of its remaining workforce globally. Today, a newly published report says that the company is giving up selling smartphones in the Indian market. Three senior executives told the Economic Times that HTC India is losing its chief Faisal Siddiqui, sales chief Vijay Balachandran and product head R Nayyar.

While India is the world's second largest smartphone market after China, the economic conditions in the country are such that companies offering lower-priced handsets ...

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