HTC Retail Strategy Paying Off
A move by HTC to expand their product ranging at JB Hi Fi is paying off with the Taiwanese phone Company now reaping the benefits of their mass retailer strategy Vs relying on carriers to deliver growth.
On Friday the Company reported consolidated revenues of US$171 million for March, increasing 11.3% on month and 25.41% on year mainly due to booming global shipments of its new Ultra series smartphones.
The Company which has struggled through a tough period for smartphone makers coupled with the emergence of several new mobile phone brands is currently planning the release of new models in the next quarter.
The company plans to add a new model to its U-series lineup in an effort to maintain its sales momentum in the second quarter. The new smartphone will feature a 5.5-inch display without a Home button and Qualcomm Snapdragon 835 CPU, according to industry sources.
Overall sales for the year are down 1.96% year on year.
However, the company is likely to see its losses narrow sequentially in the first quarter thanks to the sale of an idle plant in Shanghai.
HTC is expected to book an income of US$21.3 million for the property sale.