Honor has revealed that its India-based team is retiring. George Zhao, CEO of the company, revealed that the brand will remain on the market, but all practical staff will leave and local partners will represent the brand.
The announcement comes as Indian authorities launched a series of investigations into Chinese companies, including Xiaomi, vivo and Oppo.
George Zhao revealed that the brand will take a “very safe approach” in its market presence. He also shared that there has been a lot of work to assemble a local team, but for “obvious reasons”, it will be disbanded. The news comes as Honor made a strong impression with its flagship Magic4 series and the number series midrangers began to take hold around the world.
Honor’s decision to retire is rather unusual, as the company hasn’t officially faced any investigation. Meanwhile, other Chinese companies have been prosecuted by the Indian Revenue Agency and Ministry of Finance, but have never announced similar measures. So far, Huawei’s offices have been raided in February, $ 725 million at Xiaomi seized in May, and vivo’s bank accounts have been frozen after it was discovered that they were channeling over $ 8 billion to parent companies to avoid paying. taxes. Oppo was the last to be caught evading customs duties with over $ 551 million allegedly unpaid.
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