Motorola Mobility to Pull Out of South Korean Market
Published on: 11th Dec 2012
Note -- this news article is more than a year old.
By: Ian Mansfield
Motorola Mobility has continued its retrenchment from markets where it is struggling and is closing its operations in South Korea.
The company has seen its local market share shrink from 5 percent in 2009 to just 0.1 percent in recent months.
"To bolster cooperation, we are globally restructuring our R&D organization and focusing on markets where we can most effectively compete. The change in South Korea reflects that plan," the company said in a Korean-language statement, without specifying a schedule for the move.
The company will continue to support existing customers, and will retain its domestic consumer goods and iDEN divisions.
The company plans to transfer 10 percent of its R&D workforce to other regional offices.