HTC is shutting its business in Brazil, reported a company spokesperson to Android Pit.

The Taiwanese company has been facing troubles for last few months and now they will be "completely shutting down their operations in Brazil." With the company's decision of pulling out from the South American market, dozens of employees will lose their jobs, device wholesales will be halted immediately and HTC One series will not reach the market.

The company, however, will continue to support existing devices.

"After careful analysis of our lines of business, HTC is closing our office in Brazil. We will continue after-sales support for our products so this should not result in a change in service for current customers. This decision does not have an impact on HTC's business outside of Brazil" an HTC spokesperson said.

Recently the company has announced that amid the increasing competition from Apple and Samsung, it will not compromise its strategy of selling medium to high-ranged phones, even in its struggling time when the company is in dire need of improving the sales figure.

"We don't want to destroy our brand image," HTC CEO Peter Chou said in an interview with The Wall Street Journal. "We insist on using better materials to make better products that offer premium experience. Many consumers like that."

Brazil recently passed Germany and France in number of smartphones usage with over 27 million owners. Moreover, a recent report in The Verge indicated that Brazil very soon will become the world's fourth most important market for smartphone sales by 2016, dodging the U.K. market. While HTC's decision of moving out of the prospering market of Brazil seems surprising, it never fared well in the country.