HTC CEO Admits That Their Marketing Efforts Have Failed In 2012
HTC CEO Peter Chou was interviewed with the Wall Street Journal where he discussed how the company’s marketing efforts had failed especially when compared to the company’s competitors. HTC’s profits dropped 79% year-over-year in Q3 alone. However Chou said that “2013 will not be too bad.”
“Our competitors were too strong and very resourceful, pouring in lots of money into marketing. We haven’t done enough on the marketing front,” stated Chou. HTC moved around their management team to focus on marketing. For example, HTC hired Benjamin Ho as the new Chief Marketing Officer. Ho was previously the Chief Marketing Officer at Motorola. The company has launched a new initiative called Marketing 2.0.
Chou also confessed that HTC does not have the kind of money that larger rivals like Apple and Samsung has to build “unique products that appeal to consumers.” Around three years ago HTC was the top Android company in the U.S. Now they are the fifth largest with a 5.9% marketshare.
[Source: WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry