Jul 30th 2013, 13:30, by Michael Kan, IDG News Service
HTC plans to introduce a series of mid-tier and entry-level smartphones later this year as a way to regain market share, after posting disappointing financial results in the second quarter.
The new phones will arrive at the end of the third quarter, or early fourth quarter, HTC CEO Peter Chou said in an conference call on Tuesday. "We suffered a little bit in this mid-tier market share from the end of last year to so far, in terms of competition," he added. "However, with this new range of mid-tier products we will address those challenges."
HTC has struggled to lift its earnings over the past 18 months as its faced an increasingly competitive smartphone market. In response, the Taiwanese company has focused on boosting its brand name with its HTC One flagship series, along with spending more on marketing.
During this year's second quarter, the company's newest HTC One handset was on sale globally. The high-end handset, priced at $599 without carrier subsidies, gained many positive reviews. But at the end of the period, the smartphone maker still posted an 83 percent year-over-year decline in net profit.
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