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HTC Aims for the Low End Market to Drive Profits

Feb 10 2014, 11:13am CST | by , in News

HTC Aims for the Low End Market to Drive Profits
Reuters
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HTC plans to target low and mid range smartphone buyers

HTC has taken a beating at the hands of Apple and Samsung in the smartphone market. Apple and Samsung together land the majority of all smartphone buyers in many parts of the world. That leaves little behind for the rest of the companies out there like HTC to live on.

HTC has been having a hard time competing in the high-end smartphone market. The company recently announced that it would begin targeting the low end and mid-range market for smartphones. HTC wants to sell more mid and low end devices and says that it missed the mid range market in 2013 reports Reuters.

That doesn't mean that HTC will cede the high-end market to competitors. The company is also working on a new high-end device.

"The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market," said co-founder and Chairwoman Cher Wang told Reuters.

HTC plans to sell devices in the $150 to $300 range in emerging and developed markets. The company will also target the high-end segment with deices selling for over $600. HTC has no plans to get into the very low-end market.

HTC executives hope to boost smartphone sales this year with better marketing. Wang says that HTC didn’t market well last year. HTC execs believe that selling more low-end phones could make up a difference compared to high-end phones. Overall profitability is expected to grow thanks to more low-end sales. The problem HTC faces is that Samsung and Apple target the same low and mid-range markets with products that are typically more popular.

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