HTC banks on India to cut global losses - Times of India
Chialin Chang, CFO and president for HTC's global sales, said India is one of the critical markets for the company and will continue to see new launches and retail expansion.
Facing competition from Apple and Samsung, HTC has been losing its grip on the smartphone market and posted losses last year on revenues of nearly $7 billion. It also recorded negative numbers in the first quarter of 2014, but Chang said that new products will help arrest the slide. The company launched its top-end HTC One (M8) for Rs 49,900, while also making a foray into the sub-Rs 10,000 category with Desire 210 at Rs 8,700. "With Desire 210, we have brought the threshold further down and this is expected to give us higher volumes going forwar d," Chang told TOI.
He said the company has a market share of 7% in the Indian smartphone market. "We want to take this up to 15% in the next two years. The new products will help us achieve this. However, the Indian market is highly competitive."
Chang said that the sub-Rs 10,000 market will continue to be a focus for HTC in India. "We intend to have a stronger presence here."
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