Taiwanese phone maker HTC Corp has remarked it will be expanding its range of cheaper products as the company fixes off-target marketing for its premium smartphones.
HTC that has till date prided itself as a purveyor of upscale, feature-loaded products said it needs to sell more of more mid-tier and affordable smartphones after losing out in 2013. Muscled off-track by fast-growing Chinese rivals such as Xiaomi Inc as well as giants like Samsung Electronics Co. and Apple Inc.
“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 Chairwoman Cher Wang. HTC won’t get into the “very, very low-end market”, Chang said and added but HTC will soon unveil a new flagship phone. “The two cylinders are going to be fired together,” Chang said.
“Only time will tell, but I’m not optimistic,” said Laura Chen, a Taipei-based analyst at BNP Paribas.
“Overall profitability is going to grow,” said Wang. Higher volumes of cheaper phones should make up for the difference in price with its higher-end phones, the executives said. HTC needs a “very aggressive campaign” to broaden its market beyond tech-savvy 20 to 30-year-olds, the executives said.
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