HTC to focus on selling more affordable devices to return to profitAlex Wagner - Editorial Director of News and Content
HTC today reported its full third quarter 2013 earnings, and while we already know that it was a tough three months for the Taiwanese smartphone maker, executives say that they've got a plan to help make next quarter better.
First up, HTC posted a quarterly revenue of NT$47 billion ($1.6 billion USD) and a net loss of NT$3 billion ($102.1 million). Despite suffering a loss, HTC CEO Peter Chou says that his company "delivered good progress" during the quarter with launches of the HTC One mini and One max, more award wins for its flagship HTC One smartphone the start of its Here's To Change ad campaign with Robert Downey Jr. and. HTC says that its ad campaign has "significantly" increased consumer engagement and brand awareness, with brand momentum growing 15 percent in the markets where the ads have aired.
HTC forecasts that its Q4 2013 revenue will come in between NT$40 billion and NT$45 billion ($1.4 billion and $1.5 billion USD). The company plans to keep its operating expenses low to help save some cash and, according to CFO Chialin Chang, HTC is hoping to see increased profitability going forward by "looking at broader products" and focusing on selling higher volumes of more affordable smartphones.
HTC has having a bit of a rough go as of late, and even though the One is winning awards and RDJ is increasing brand awareness, things don't seem to be going the company's way. It doesn't have a shortage of ideas on how to turn things around, though, including the recent sale of its stake in Beats and plans to focus more on affordable devices. HTC CEO Peter Chou has said that he plans to focus more on innovation and his firm's product portfolio in order to aid the recovery. Do you think that HTC's strategies will actually help to improve its situation?