Taiwanese phone maker HTC has confirmed that it's effectively pulling out of the South Korean market. In a statement, the company said it was closing its Korean sales office immediately, though it will continue to provide support for people using its phones. Here's what an HTC spokesperson told us:

As part of a regular review of all lines of business and markets in which the company operates, HTC will close its Korea sales office with immediate effect. HTC will continue to provide after sales service and customer service functions through its local operator partners – SKT and KT, and will continue to honour all existing product warranties. In addition, the company will endeavour to provide updates to existing products available in the market.

HTC believes Korea is one of the most advanced and fast growing smartphone markets in the world, and will carefully evaluate introducing innovative mobile devices in Korea should the opportunity arise in future.

HTC recently released its high-profile One X and One S phones, but it's slipping in sales worldwide, and it was competing with both Samsung and LG on their home turf in Korea.