150 Employees Each from Sony And Samsung Laid Off In India
Sony and Samsung Electronics laid off around 150 each of its executives hired in India in the stir of Indias slowing product sales in past two months, due to increased competition with Chinese companies that is eating their smartphone market.
Sony India offered voluntary retirement to its smartphone team as Japanese company scales down its mobile business, on the other hand Samsung India largest seller of mobile phones asked mid level executives across its marketing support and after sales regional offices to leave in order cut costs.
Sony India have failed to grow the way it had anticipated in smartphone business after its parent company exit from entry level models, stiff rivalry in mid to premium section from Apple, Samsung and other Chinese brands slowdown in sales. Sony’s market declined up to 1% from 6 to 7% last two years ago.
Sony now scaling back mobile business infrastructure created across channels, which led to job cuts. Xperia smartphones maker now focus on upper mid segment to premium end market and even plans to sell online through exclusive stores and large retailers.
Invest BTC and get 30%
Get free IDH TOKENS when you register now