Just 2 years ago one in every 10 smartphones sold was from HTC and things were looking bright. Today, however, the Taiwan-based smartphone manufacturer is struggling to hold on to a 2% share of the global market and profits are dropping. Over the past 27 months HTC has seen sales gradually drop off as inexpensive smartphones have been flooding out of China and the major companies such as Apple and Samsung have been booming. It is a tough time for the company who frankly has been over pricing their products expecting the high-end money for a mid-range product.
The thing is, HTC produces solid phones, not fantastic just solid, so they can’t really go head to head with the big companies anymore. In terms of quality they are better than the new upstart Chinese companies but they are also massively more expensive. Well, after starting to post quarterly losses HTC has realized they need to make a big change and make it fast before it is all too late. So the company has decided that its newer smartphones are going to be offered markedly cheaper in a bid to boost sales substantially. The problem is that the damage may already be done with investors lacking faith in the company and the brand itself suffering from waning public opinion. This is a real case of hustling hard to try and bail out a sinking ship with rumors circulating regarding pie in the sky wearable tech. It will remain to be seen if HTC can make a comeback or if it was just left too late.
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