HTC will focus on mid- and low-range smartphones in order to turn the company's financials around after several shoddy years, Reuters reports.
That doesn't mean the company will stop making high-end phones; in fact, HTC plans to launch a new flagship phone soon.
[seealso story="2013/12/07/24kt-gold-htc-one"]
"The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market," co-founder and Chairwoman Cher Wang told Reuters in New York last week.
According to HTC's CFO Chialin Chang, the company plans to sell phones in the $150 to $300 retail range, but won't get into the "very, very low-end market". To keep up with Samsung and Sony, both of which have launched smartwatches last year, HTC will also launch a wearable device by this year's holiday season.
By "flagship" HTC means the HTC One, a phone that received very good reviews but failed to push HTC's profits into the green. HTC's revenue dropped to NT$203.4 billion last year, causing the company's shares to fall 53%.
HTC's revenue fell from NT$60 billion to NT$42.9 billion in the last quarter of 2013 according to company's Q4 financial numbers released Monday. While HTC is optimistic about 2014 as a whole, the company warned it expects lower revenue for Q1 2014, somewhere between NT$34 billion and NT$36 billion.