Taiwanese manufacturer HTC says that it will make cheaper smartphones to revive its struggling business.
According to the company, its focus on its flagship devices such as the HTC One and M8 led to it missing out on a “huge chunk” of the mid-tier market.
HTC Chief Financial Officer Chialin Chang recently told Reuters that HTC will sell products in the $150 to $300 retail price range for both emerging and developed markets, along with high-end phones which can sell for over $600.
Chang added that HTC won’t get into the “very, very low-end market”, but will soon unveil a new flagship phone.
A lack of affordable phones means that HTC has failed to make its mark in emerging countries such as China, where it faces fierce competition from local manufacturers Huawei and Xiacom, both of whom have a range of models available for less than $150.
HTC’s financial troubles include a market share of just 2 percent and year-on-year operating losses. Last week the company also announced that it was planning to launch a wearable device this year.
Source: The Next Web, Reuters