Thursday, Oct 2, 2014Thursday, Oct 2, 2014
News
 

Chastened HTC turns to cheaper smartphones in search for profit

Published on Feb 10, 2014 6:01 AM
 
A customer plays with an HTC J smartphone in a mobile phone shop in Taipei in this April 8, 2013, file photo. Smarting from growing losses, Taiwanese phone maker HTC Corp says it will expand its range of cheaper products as it fixes off-target marketing for its premium smartphones. -- FILE PHOTO: REUTERS

TAIPEI/NEW YORK (REUTERS) - Smarting from growing losses, Taiwanese phone maker HTC Corp says it will expand its range of cheaper products as it fixes off-target marketing for its premium smartphones.

The company that has long prided itself as a purveyor of upscale, feature-loaded products says it needs to sell more mid-tier and affordable smartphones after losing out in 2013.

Muscled off-track by fast-growing Chinese rivals like Xiaomi Inc as well as giants like Samsung Electronics Co and Apple Inc, HTC is seeking to reverse a two-year sales slump matched by an 80 per cent drop in its share price.

"The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market," said co-founder and chairman Cher Wang, speaking to Reuters in New York last week alongside Mr Chialin Chang, HTC's Chief Financial Officer.

 
If you are not a subscriber, you can get instant, unlimited access here