HTC‘s executives have admitted that they made a massive blunder when they neglected the cheaper smartphone market. They will now make a number of mid-range phones which will most likely cost between $150 and $300. These will be sold in both current and new markets in the future.
HTC hopes that this will have an impact on their financials, which has seen a massive drop off from previous years. Their stock price has decreased by 80 percent and they now have only 2 percent market share worldwide. It‘s actually quite a shame as the HTC One is a great phone.
HTC’s Co-founder and chairperson Cher Wang, speaking alongside Chang, confirmed to Reuters that the company focused too much on the One instead of rivalling cheaper handsets like the Motorola Moto G or the Google Nexus 5.
The entire focus of the company is shifting to emerging markets, while still remaining active in premium markets. China and India are of course the obvious targets. They are also going to release a wearable in 2014. We look forward to see what they have to offer alongside its M8 flagship coming soon.
Source: Reuters
