Guzzo says it will stop selling smartphones in China
Guzzos will stop making its phones in China.
The maker of the popular iPhone, the GuzzoS Smartphones and Guzzoos mobile phones has said it will “disconnect” from the country after more than a year of business.
The announcement came after the company’s shares slumped more than 8 percent on Tuesday.
The company said it has invested $50 million in China, in part through the purchase of two new manufacturing facilities.
It will be making smartphones and tablets from Chinese factories.
“We have invested in China as a strategic partner, which we see as a positive development for our company and for the overall Chinese smartphone ecosystem,” Guzzoz Chief Executive Mark Stolper said in a statement.
Stolper added that the company plans to expand its operations in China “in the coming months and years.”
Guzzos is the largest maker of smartphones in the world, with more than 1 billion units sold, according to research firm IDC.
Chinese officials have been trying to force Apple to build products in the country, where they say the iPhone is a threat to national security.
Guzzios products have been sold in China since 2009.