Printed from http://www.electronista.com

HTC moves into mid-range smartphones, poor financials revealed

updated 06:13 am EST, Mon February 10, 2014

Fourth quarter results of 2013 show year-on-year decline in revenue

HTC will be moving towards offering more lower-specification devices in the future, the company has revealed. The move toward mid-range smartphones comes at the same time as the company announced its results for the fourth quarter of 2013, as well as an estimate for the first quarter of 2014 suggesting it will see another drop in revenues.

Speaking to Reuters, Chairwoman Cher Wang advised "The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market." HTC Chief Financial Officer Chialin Chang said the company would move to add devices in the $150 to $300 price range, though stopping short of entering the "very, very low-end market." The mid-range devices would be accompanied by premium releases, such as the rumored flagship M8, with Chang stating "The two cylinders are going to be fired together."

HTC One
HTC One


The latest Q4 2013 financial results reveals a quarterly revenue of NT$42.9 billion ($1.4 billion), a decline from the NT$60 billion ($2 billion) in the same quarter of 2012 and the NT$47 billion ($1.5 billion) from the previous quarter, and a quarterly net profit of NT$310 million ($10.2 million). Revenues for the first quarter of 2014 are expected to be between NT$34 billion and NT$36 billion ($1.12 billion to $1.19 billion).

HTC CEO Peter Chou reiterated the mid-range move in the financial release, adding "we are going to communicate better with consumers," possibly as a reference to its examination of its marketing efforts. The statement also mentions the recent patent deal with Nokia.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News