HTC has dispelled the damp sales forecast it has for next year by promising to release better and more competitive smartphones in 2012.
According to an article on Reuters, the company has said it would continue with its current strategy and design more competitive devices in 2012, despite the fact that its market share has dropped by 30 percent.
The company, which first started as a contract based device maker, became a strong player in the smartphone market with the success of its Android based smartphones.
But, as Apple and Samsung continue to rise, the company's share has fallen, worrying investors who believe the company has lost is innovative spark. The company recently shocked the market by forecasting no growth for the fourth quarter.
HTC, which is known for its Desire, Sensation and Wildfire series models, claimed it won't become another Nokia and continue to forge ahead in these tough times.
"I don't think it's so serious. We have six quarters of improvement, the most conservative guidance is 45 million units of shipments this year, a lot higher than 25 million last year," Chief Financial Officer Winston Yung told Reuters
"We will focus on the product next year, better and more competitive. Other than new LTE phones for the U.S. market, we also have phones for the global market. We will launch some worldwide flagship products. We're confident in them," he added.