HTC OZ Doing Okay As Global Revenues Plunge
The brand that is a firm favourite of Telstra is set to launch a major new marketing initiative in an effort to bolster sales.
HTC, who delivered Australia’s first 4G phone on the Telstra network, has reported falling profits for the last three quarters due to Apple and Samsung spending millions on marketing as they slug it out with each other.
HTC CFO Chang Chia-Lin claims the brand is still strong. “HTC is still a young company.” (The name HTC has only been in use since 2006). “In a lot of countries, the brand awareness is fine. We need to focus more on the brand consideration and the brand preference,” he said.
Despite increased sales in Australia, the Company is struggling in the USA & Europe.
In China sales of HTC phones grew in the second quarter by 389%, according to research firm Canalys, although its market share remains small at less than 5%.
In recent months, however, HTC closed offices in both Brazil and South Korea and has also given up 25% of its stake in Beats Electronics.