HTC is losing ground in the smartphone market as profits dropped from $18.68 billion to $3.9 billion in only a year. In response to this sharp drop in profits and market share, HTC has launched new phone models in an attempt to rebound back into the competition with Apple’s iPhone and Samsung’s Galaxy tab. Analysts said that it would be difficult for HTC to catch up with its rivals in the short term, despite launching the new phone models.
The main problem that HTC faces now is innovation and creativity. Apple and Samsung are constantly pushing out new products as HTC is lagging behind in stock and sales. In order to stay competitive in the smartphone market, HTC needs to reassess its direction and goals in terms of marketing and planning. HTC has had the first-mover advantage in Android smartphones and is technically forecasted to be a major competitor in this market, but why is it at a stumbling block? HTC should revise its fundamental building blocks of strategy and positioning in order to define a clear vision of what it wants to achieve in the future and how. The question that HTC is facing now is “what’s next?”
Article Link: http://www.bbc.co.uk/news/business-19879861