Honor announced that its India-based team would leave India as New Delhi tightens its grip on Chinese companies. George Zhao, the CEO of the company said that the brand would remain on the Indian market but that all employees will be leaving. Local partners will sell Honor products.
George Zhao stated that the brand has a “very secure approach” to being present in the market. He said that Honor had done an excellent job in assembling a local team but it will be disbanded for “obvious” reasons.
After Indian authorities opened a series investigations into Chinese companies, including Vivo, Xiaomi and Oppo, the Indian authorities made this announcement. Honor wasn’t on the list but the company made this decision.
In February, Huawei offices were raided. In May, $725 million was taken from Xiaomi. Vivo’s bank accounts were also frozen. It was discovered that Vivo had diverted more than $8B to parent companies in order to avoid paying taxes.
Oppo is the latest company to be found evading customs duties worth more than $551 million.
