HTC Looks Positively Towards 2015

HTC, the world’s third largest smartphone manufacturer, announced that the company is doing well and will not need additional capital to finance an ongoing growth cycle.

Chialin Chang, the CFO of HTC said that the Taiwan-based company does not need to tap the capital markets in 2015. The company has sufficient assets, and available cash amounting to US$1.7 billion. Along with a lack of debt, the company does not need additional funding.

Although HTC has failed to build an identity for the brand within the competitive market, and also struggled to turn positive reviews of HTC devices into an increase in sales figures, HTC has achieved higher third quarter profits in the market than was earlier speculated. However, the higher profits are a result of cost cutting rather than rising sales.

Chang also stated that the company is growing its portfolio in the cell phone market in order to attract buyers in developed and developing nations. HTC also plans to diversify its range of devices as demonstrated by their “Re” camera, which will be remote controlled by an app that can be installed on Android and Apple phones. The cylinder-shaped camera is portable and waterproof, a potential competitor for GoPro, although it is intended for everyday use rather than extreme sports.

Rumours have surfaced that HTC will be creating a 9-inch (23cm) tablet for Google and that the two companies are partnering to create a “smart watch” competitor to the Apple Watch. Chang refused to comment on these rumours during a Reuters interview, although he did state that HTC is working on other “smart devices” like the “Re” camera.

HTC was founded in 1997 by Cher Wang and Peter Chou, as a notebook computer manufacturer in New Taipei City, Taiwan. The company began designing some of the first touch screens and wireless hand-held devices the following year, and was credited with creating the first Android smartphone in 2001. In 2010 the company launched the first 4G-capable smartphone in the US, the HTC Evo 4G.

The company was named the “Device Manufacturer of the Year” by the GSM Association at the Mobile World Congress in 2011. That same year, HTC’s market value exceeded Nokia’s, making the company the third largest smartphone manufacturer after Apple and Samsung. In April this year, the company reported a 12.7% increase in sales, its fastest growth rate since October 2011.