[dropcap size=small]N[/dropcap]othing in this world comes for free, if you are not paying for it then someone else has to. Same goes for the cheap Smartphones, you might have to shell less bucks to get your hands on a good smartphone of a decent brand but it is not as simple as it seems. Currently, market is flooded with affordable Smartphones and we have got a large collection to choose from, and at the same time it is not easy for the Smartphone Giants to ride out the competition and they are going all out for surpassing their adversaries. [highlight ]For this, they are using one of the oldest and effective trick that is by reducing work force for compensating the higher production cost of Smartphones and meeting the expectations of its consumers.[/highlight]
Smartphone Giants are cutting down jobs for providing Affordable Smartphones and the big shots in this list are HTC, Lenovo, Sony and many others. Recently, HTC and Lenovo have announced job cuts because of less than stellar earning reports. [highlight ]HTC has already informed investors about cutting 2,000 jobs which would be fifteen percent of its total workforce.[/highlight]
[highlight ]Lenovo will also slash down its manufacturing headcount by 10%, reducing its workforce by 3,200 people[/highlight]; although jobs which are at risk haven’t been specified yet. Lenovo’s net profits were down by 51% year-on-year and Motorola Smartphone Unit is also not doing so well as its shipments have declined by 31% accounting to be 5.9 million units.
[highlight ]In July 2015, Microsoft fired 7,600 employees from handset division[/highlight], and a large number of employees were from its Nokia handset division with a announcement that the company is going to fixate its potential on software and services segment like MS-Office, One drive, Skype and others. Blackberry also cut down undisclosed number of employees in May, 2015 and another leading smartphone manufacturer [highlight ]Sony removed 2,100 people in February, 2015.[/highlight]