HTC has dominated the smartphone market along with several other manufacturers, but now the Taiwan-based company will invest its resources and knowledge in the area of virtual reality. CEO Yves Maitre announced that HTC will not work on smartphones anymore, except for the ones running the 5G technology.
The decision shouldn’t surprise anyone since HTC has a new CEO after Wang Xuehong decided not to continue. Maitre’s more modern view and desires regarding the activity of the organization should assure some huge revenues in the near future, considering that Virtual Reality and 5G technology are causing a lot of interest worldwide.
Will HTC abolish the downfall?
Although it’s a harsh truth, there has to be said that HTC is in a downfall since the revenues from recent years weren’t as the management of the company expected. The decision to stay with markets that had high demands for budget segment phones didn’t quite bring productive outcomes.
Some investments have already been made in the HTC XR line of products that are sold under the Vive sub-brand. More precisely, it’s about VR gadgets, and HTC’s officials are willing to spend more funds in the development of such products.
HTC also plans to create gadgets for the developed markets across the world where they don’t have to worry about prices. Therefore, the company wants to extract a premium on the more high-tech products.
HTC or Oculus?
Bloomberg asked Maitre how HTC plans to beat Oculus in the VR market, and he replied:
“I’m not sure that the target is to beat Oculus. The market is very large. We are competing with Oculus, [but] Oculus is its own segment which is purely gamer and social network. [sic] I think the market is very large, when you look at the B2B [business to business] for example, [there] is also a lot of opportunity. I think everything is moving forward and the market is, again, very large.”
The new CEO for HTC hopes that by the year 2025, the Asian company will radically improve, and the new plan will be successful.
