HTC to Discontinue Several Phone Models in Order to Keep Up Numbers
HTC Corp. has come under a lot of slack, for the past couple of years for being “confused, unoriginal and uncompetitive”. With their shares having fallen by 51 percent so far, the Taiwanese smartphone makers have reportedly announced, that they would be cutting jobs and discontinuing models so that they can focus on high-end devices, which they hope will enable them to compete with Apple Inc. and Samsung.
“The cuts will be across the board,” said Chief Financial Officer Chialin Chang, “they will be significant.”
He also mentioned that the cost reductions would extend up to the first quarter of the following year, but no further information has been reported.
The company seems to have been losing its market share both in the high-end as well as the low ranged sectors, with Apple and Samsung electronics in the former and Chinese rivals at the latter range, taking over rapidly.
Reports suggest that Chang also mentioned HTC’s strategy for the coming quarter would be – to bank on selling high-end smartphones in India where the company is said to have 20 percent market share of phone priced between approximately Rs.15,946 and Rs.25,514.
However, while most analysts are still skeptical of HTC’s stable continuance, it is to be seen whether this strategy will work for them or not.