HTC announced it will be joining the wearable technology frenzy soon. The company plans to launch its first wearable device in time for Christmas 2014.
In an interview with Bloomberg in New York, HTC co-founder and chairman Cher Wang disclosed that the company has been considering entering the crowded wearables market for some time now, but faced challenges and decided to focus on other priorities. She revealed that the company's first wearable device has been in development for several years.
"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.These are customer-centric problems," said Wang.
In addition to a wearable, HTC will soon release its new flagship smartphone.
The new HTC One, also referred to as the M8, will feature a twin-sensor for its main camera and a more generous screen size. The M8 might be powered by a Qualcomm Snapdragon 805 chip, but the company has been quiet about potential specifications of its new device. The handset is expected to be unveiled at the Mobile World Congress this month and officially released in March.
Wang told Bloomberg that the company will bet on the new version of the HTC One, a better marketing approach and a wearable device to improve its current financial status. The smartphone manufacturer suffered two successive years of declining income and it hopes to change its fortunes in 2014.
"It's really not only the budget increase, it's the way how you spend the money. Is it smart? There's a lot of ways to reach the audience right now," Wang explained, referring to the company's attempts at customer outreach.
Chialin Chang, HTC's chief financial officer, expressed an optimistic outlook on the company's future.
"2013 wasn't a very good year for HTC. We have to admit we took our eyes somewhat off the ball in making sure we have a robust portfolio in the mid- and affordable end, which we're fixing now," Chang said. "We feel positive and optimistic about 2014 when compared to 2013."
HTC is one of the few big brands in the industry that has not yet rolled out a wearable device or even hinted that it has any wearable in development. Competitions such as Samsung, LG and Sony have ventured into the growing market with their own smartwatches and wearable fitness gadgets.
Google is preparing to commercially launch its Google Glass wearable, while Apple's iWatch, although not confirmed by the company, is much awaited by iDevice fans.
Aside from the pressure being exerted by other brands, HTC is also dealing with internal problems. In December, a Taiwanese court found six of its employees guilty of corporate espionage and pocketing huge sums of money from the company's coffers.
