DEMONETIZATION:Asustek has decided to cut marketing and promotional expenses in response to the changing market dynamics in the country, a company official said

Taipei Times
Date: Dec 14, 2016
By: Lauly Li / Staff reporter

Taiwanese tech companies as Asustek Computer Inc (華碩) and Acer Inc (宏碁) said their product sales in India have been affected by New Delhi’s unexpected demonetization policy last month, as it has weakened business activities and consumer confidence.

“Overall business activity is declining, with the effect on Asustek’s smartphone business appearing to be more obvious than on the company’s notebooks,” Asustek spokesman Nick Wu (吳長榮) told the Taipei Times by telephone.

India is one of Asustek’s fast-growing smartphone markets. The company has sold 3 million ZenFones in the nation and has a 2.5 percent share of the smartphone market, the company says.

Asustek’s PC sales, including notebooks, were the fifth-highest in the Indian market in the second quarter with a 3.3 percent share. However, it was overtaken by Apple Inc in the third quarter, International Data Corp (IDC) figures showed.    [FULL  STORY]