Taiwanese phone maker HTC Corp says it will expand its range of cheaper products to fix market loss
Smarting from growing losses, Taiwanese phone maker HTC firm says it’ll expand its vary of cheaper product because it fixes off-target selling for its premium smartphones.
The company that has long prided itself as a supplier of upmarket, feature-loaded product says it must sell additional mid-tier and cheap smartphones when losing get in 2013. Muscled off-track by aggressive Chinese rivals like Xiaomi Iraqi National Congress yet as giants like Samsung natural philosophy Co and Apple Iraqi National Congress, HTC is seeking to reverse a biennial sales slump matched by associate degree eighty % call its share worth.
“The drawback with North American nation last year was we have a tendency to solely focused on our flagship. we have a tendency to lost an enormous chunk of the mid-tier market,” same co-founder and chair Cher Wang, chatting with Reuters in big apple last week aboard Chialin Yangtze River, HTC’s Chief money dealer.
Speaking before associate degree HTC earnings steerage presentation expected afterward Monday, Yangtze River same HTC can sell product within the $150 to $300 retail worth vary for each rising and developed markets, at the side of high-end phones which might sell for over $600. HTC will not get into the “very, terribly low-end market”, Chang said, however can before long unveil a replacement flagship phone.
“The 2 cylinders ar getting to be unemployed along,” Yangtze River same.
The new strategy marks a desire to handle issues at a corporation, 3.8 percent-owned by Wang herself, that simply over 2 years agone provided one in each ten smartphones sold round the world. In two013 its international market share had fallen to merely 2 %, consistent with Strategy Analytics analyst Neil Mawston, and HTC last month according its second straight quarter of operational losses.
HTC can got to move quickly so as to convert sceptical shareholders. “Only time can tell, however i am not optimistic,” same Laura Chen, a Taipei-based analyst at BNP Paribas.
Chen believes the company’s elementary drawback is unattractive, underwhelming product which this can still hold it back in 2014. “They do not provide something very new the market,” same Chen, WHO contains a ‘sell’ rating on HTC shares.