HTC has also been manufacturing less smartphones in total and over the course of previous year it made less than 10m units.
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As for the smartphone market of HTC, it has not completely ended its business.
As noted by HTC Investors, the company's President of Smartphones and Connected devices, Chang Chialin, has resigned. Chang previously worked at Motorola and Goldman Sachs before joining HTC as CFO in 2012.
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The G63 has been equipped with the tuner's 4.0-liter twin-turbocharged V-8, the same engine fitted to the regular G-Class. AMG also tweaked the front and rear suspension to help improve the SUV's overall drivability both on and off the road.
Chang cited a "personal career plan" as the reason for leaving HTC, without going into any details.
In December 2013, Chang was appointed president of HTC's global sales before being made president of the Smartphone and Connected Devices Business in early 2017. The bottom line is, Chang is out and HTC, at least for now, is not replacing him. "We thank him for his dedication to the Company for the last 6 years and wish him well in his future endeavors". The move comes months after Google chose to buy the smartphone design and engineering team from HTC for $1.1 billion (roughly Rs. 7,000 crores), and it could be the outcome of the plan that was reportedly aimed to streamline the company's smartphone lineup this year.
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On the Index of Industrial Production data, Ghosh said, "We expect a better Q3FY18 with 12-15% increase in revenues on YoY basis. Manufacturing recoded a robust growth of 8.4 percent in Dec17 over Dec16", Commerce Minister Suresh Prabhu said in a tweet.
HTC hasn't yet quit the smartphone business, as the company is expected to launch the HTC U12, a dual-camera flagship phone for 2018. Before then though, HTC does have a major smartphone launch planned for this year, with the HTC U12.