With various technology companies now reducing their workforce, device manufacturers that focus on the first, i.e. Black Shark are also seen to be affected due to macroeconomics.
Black Shark is said to have cut hundreds of jobs - and has done so in stages since 2022. Black Shark's workforce, which was previously more than 1000 employees, is now said to be around 100 people only - showing a reduction of around 90% of their workforce.
Previously, Tencent was reportedly in talks to invest in Black Shark, but pulled out after failing to get permission from local authorities.
With fierce competition in the smartphone arena, it is not yet known how Black Shark will fare against their other competitors in the market.
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BUSINESS & MONEY