A cellphone manufacturing company which had started on a high note in the Zimbabwean market is facing serious viability challenges and a decision has just been made to start folding up from the Zimbabwean market.
#MondayBlues has always had a habit of clearly naming, perpetrators or victims but this is a special case since the ink is still so fresh to an extent that the affected beneficiaries are yet to be informed.
Many of its employees will be rendered unemployed, in a move which will be announced soon, to the members of the staff, though through the performance, the writing was on the wall.
The company has also with immediate effect announced that it would stop advertising its products, to create enough time for a silent exit, hoping for a slow and dead low exit.
The company is also crying foul over the forex shortages saying they cannot import new phones.
In this largely dry economy, their competitors are thriving mainly by pushing products to government civil servants on a buy now pay later basis, but the international giant took so much trying to sell directly to consumers or through wholesalers, a move which backfired.
After hiring many Zimbabwean professionals and experts to help it leap in the public domain, the international company has tried all but to a naught to push mass sales of its products , and has now dammed the division a loss making one.
The board has rather resorted to direct supply chains which would sell directly from their international base, to the masses, while minimizing risks and chain expenses.
Sources close to the development however said the international company will not be completely closing but will leave the other profitable part of the business running, while they closely watch the fold up of their terminal device.
The company is a multi billion one, which unfortunately has not seen any significant profits since it entered the local market, and has now made a decision to terminate the loss entity division.
Besides the cellphone business, the giant is still very profitable with large corporate and government deals it has been running since it entered the local market.
The only hope could come if they are magic sales in the time left to shutdown or somehow the executive reverses the decision on sustaining the non profitable division.
#MondayBlues was also told the top head may be sent back home due to non performance, a move yet to be publicly announced.