HTC – The Taiwanese smartphone manufacturer has long crafted critically acclaimed smartphones intended solely to have them unnoticed in favor of larger, flashier brands. The troubles for HTC continued on Friday when they cut their second quarter revenue forecast and warned that they would post a loss, breaking a streak of 4 profitable quarters.
The strive indicates the difficulties of staying a little fish encompassed by considerably more significant players in the cut throat business of selling top quality smartphones. The smartphone manufacturer had built headway for a handful of quarters with its system of offering inexpensive mass-segment gadgets but their negligible improvement seems to have operated into a wall.
HTC which was once a top smartphone vendor has fallen into the “other” category of competitors. They said that they anticipate revenue of around US$1.06 billion. They earlier expected to generate around $1.48 billion. Furthermore, HTC said that they would post a loss of around 31 cents a share in the period.
The company scribed the weaker financials to slower interest for their top of the line Android gadgets and also weaker deals in China. HTC’s key smartphone business continues to be overshadowed by big players such as Samsung and Apple. Companies such as Huawei , ZTE and Xiaomi in China have ascended to be the prevalent option among local customers.
In March, HTC unleashed a new version of their HTC One flagship smartphone, despite the fact that the gadget represented a minor upgrade over the previous version. HTC has now commenced on a mission to augment their business beyond smartphones by introducing completely new products, including a fitness tracker and a virtual reality headset.
Cher Wang, the Chairwoman of HTC said that “We have whole confidence in attaining our eyesight and maximizing shareholder benefit by our planet-class innovation and by seizing fascinating new organization alternatives in the related lifestyle room.”