Elecom Co., a Japanese manufacturer of peripheral products and accessories for personal computers and other digital equipment, has closed its Indian unit after less than four years in the country, with one executive saying it failed to gain traction in the price-sensitive market.
"Elecom India Pvt. Ltd. has stopped all operations since August 2016, and is in the process of liquidation now," Takeshi Kawakami, who is in charge of overseas marketing and sales at the Osaka-based company, told NNA in a statement without offering further details.
Raghav Kumar Sharma, who resigned as director of Elecom India this year after the company decided to close, also confirmed the development, saying the firm "was doing well despite facing many challenges."