HTC to foray into the wearables market, will launch a smartwatch this year

David Parker February 6, 2014 0

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HTC Chairwoman Cher Wang told Bloomberg that the Taiwanese company is planning to start selling its wearable device this year. This announcement confirms all rumours about the company taking a leap into the wearable devices market.

Many years ago we started looking at smartwatches and wearables, but we believe that we really have to solve the battery problems and the LCD light problems,” Wang said in the interview. “These are customer-centric problems.

The company has had its share of troubles in the recent years, even the well-received One smartphone failed to boost revenue for the company. HTC shares fell by 53 percent last year and the revenue dropped to $6.7 billion and the company reported its first annual loss net loss in 10 years. According to data compiled by Bloomberg, in 2012 the budget for sales and marketing dropped by 20 percent which was 9 percent lower for the year through Sept. 30.

Samsung Is the Reason Behind HTC’s Loss and BlackBerry’s Shut Down

In such a scenario, a total revamping of its marketing strategy to sustain in a heavily competitive market became absolutely necessary. We saw the company relying heavily on One and Desire line-up for its revenue last year; a wide range of products may help HTC find consumers in more segments of the market.

Wang admitted that marketing has not been a very strong feature of HTC despite high profile campaigning. Pledging to be “smart” in the way HTC spends on advertising and revamp its marketing strategy, Wang said, “To tell the truth, we never think marketing is that important, this is really not very good”.

CFO Chang Chialin feels the company is “positive and optimistic about 2014 when compared to 2013.”
The sale of its remaining 25 percent stake in Beats Electronics for $265 million and aggressive cost cutting helped the company avoid a second-consecutive quarterly loss. Last month HTC reported a net income of $10 million for the fourth quarter compared with $34 million in the year-ago period.

The interview however did not provide details on what the consumers can expect and when.
We hear that the wearable device will be available by the holiday season. You can also expect the updated version of HTC One by March as reported by Bloomberg.

What are your views on this? With a list of wearable devices lined-up what different would you look for in a device? Do write to us with your comments in the section provided below.

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