HTC is planning to capture an 8% market share in India within the affordable smartphone segment by launching new devices for the category. The company is confident it can achieve this goal over the course of the next 6 months.
HTC currently has a 4% share in the overall handset market in India and a 5% share among mid-range smartphones. This is largely due to the fact that it doesn’t have any handsets in the sub-Rs 10000 segment in the country. HTC president of Global Sales Chia-Lin Chang claims nearly 65% of phones sold in the nation are priced below Rs 10000.
The Taiwan-based HTC had chosen not to participate in that segment till now. According to PTI, Chang believes that it is necessary to widen the brand’s horizons when it comes to market segments. He asserts India is an important region for the manufacturer and the global financial outlook of the company depends on it doing well here.
Keeping this in mind, HTC will launch products with values starting at around Rs 8000. Thereafter, it hopes to achieve a 7.5% to 8% share within the Rs 8000 to Rs 15000 category over a 6-month time period. All the new smartphones will be 4G-ready handsets. Chang thinks capturing a 2% share of the budget devices sold in India will result in a huge growth momentum.
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He hopes this will propel the company’s global revenues to greater heights. The move towards the affordable market segment means HTC will have to face fierce competition from dominant brands such as Micromax, Intex, Samsung, Lava and Xiaomi. The handset maker recently unveiled two new mid-range phones in India, the One A9 and Desire 828.