HTC to make $150 phones for developing markets this year

Just like it did before, HTC is planning to increase the number of mid-range phones it offers this year and sell them for a cheaper price than its current models. According to the Chang Chia-Lin, the Taiwanese company’s chief financial officer,  the company plans to sell products in the $150 to $300 price range in both existing and developing markets like Asia and Africa. The Taiwanese phone manufacturer has last year suffered a gaping hole it’s financial situation last year and it’s hopeful the move, will reverse its fortunes. HTC has suffered a global market share fall to just 2%, its stock price drop 80 %, and its profits fall 83 percent in the second quarter of 2013 from the previous year.

Going back to the basics

According to the Reuters ,  HTC co-founder and chairperson Cher Wang, said that the company’s problem “problem” in 2013 was “concentrating on [its] flagship.” Only two of HTC’s phones available in the company’s Chinese store retail for under $150: the price point with the highest-growth in the country according to IDC. 21 phones retail for more than $500. Wang said that by focusing on high-cost models — even if they were well-received— led HTC to miss “a huge chunk of the mid-tier markets” in 2013.

The company plans to announce a new flagship phone — a successor to the HTC One — soon, plus we also expect them to release a wearable device by 2014’s holiday season.