本季營運目標（NT$）：
Revenue：340~360億元，
GM：21.5~22％、季增約4個百分點，
OM：-4.9~-6.4％、季減，
Income：虧損17.8~21.9億元，相當於每股虧損2.1~2.6元。

法說會，法人六問HTC，三問無奈：
• 首季財測：遠遜市場預期。
• Nokia和解權利金：保密原則，無可奉告。
• 未來新機進度：籌劃中。

Nokia payments, more fearsome than Apple case: HTC has announced to make payments to Nokia in a technology collaboration agreement. Neither party has disclosed further details. According to JPM analyst Sandeep Deshpande, the back-calculation from Apple’s royalty payments to Nokia seems to suggest a 0.5-0.7% royalty payment, which has included cross licensing; if we "unroll" the cross licensing, it could be close to 1%. Nokia’s conversion into a pure IP company means it is probably not so interested in cross licensing anymore. We suspect HTC will fall into the “unrolled” case, and estimate HTC will have to pay about 0.7-1% of sales to Nokia for future business. Nokia might likely go after the other Android vendors as well, still the competitive landscape means it is difficult to pass on the extra costs to consumers.
- JP Morgan

歷經連續27個月的營收年減，HTC依然信心滿滿，自認本季將是營運谷底，之後季季向上，重返榮耀。

The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market.
- Cher Wang, co-founder and Chairwoman of HTC

We needs to sell more mid-tier and affordable smartphones after losing out in 2013. New mid-tier and low-end handsets should provide the majority of revenue, bar sales from its flagship HTC One phone, after the first quarter. HTC will sell products in the $150 to $300 retail price range for both emerging and developed markets, along with high-end phones which can sell for over $600. [IMG]HTC won't get into the "very, very low-end market[/IMG]."
- Chialin Chang, CFO and Global sales president of HTC

HTC將在中國大陸推出人民幣1500至3000元作為主力產品，也會銷售人民幣1000元的低價手機。中低價產品線與價格均到位，連中國電信業者也認為宏達電終於「踩對線了」。這些基於Mediatek方案的機種全數委外ODM，中階四核機由台系華寶，低階雙核機由陸系龍旗、聞泰操刀。


宏達電財務長張嘉臨

錯過了這個村，就沒有那個店。曾經堅決不碰千元機，中國商機在2013年與HTC擦身而過，今年再回頭晚矣。總是跟不上市場節拍的決策敏感度，HTC won't get into the "very, very low-end market."將會是running-out-of-time的HTC再蹉跎的一年嗎？

Of the 53 phones for sale on HTC's China website, only two models cost less than $150 - the highest-growth price bracket in China, while twenty-one are over $500. Local smartphone maker Huawei Technologies Co Ltd lists eight models under the magic $150 threshold. And Xiaomi's phones sell for between $130 and $410.
- IDC

今年的千元機將是4G浪潮，而3G入門機種將可能是五百元俱樂部（八核大屏機本機已進八百元價格帶）。小米模式震憾中國，電商手機再引領智機探底風潮。戰鼓高擂，中國一線大廠、個性化品牌紛紛驚蟄，�**藿鶣嶊瑣y族黃章走向台前，華為榮耀爭當陣頭，中國智機市場二次洗牌戰正式開演。除了爭低，中國品牌不忘登高，Xiaomi跟ZTE已正式向Sharp下單IGZO面板，中高階將再起新高規低價殺戮。





低價真無能獲利？以低價機起家的中華酷聯，忝為中國四大金剛，銷量皆已超過3000萬支門檻，除Coolpad外，其餘皆難以從其合併財報中一觀損益。Coolpad與HTC同為單純的手機終端品牌商，自2011年起，乘低價智機浪潮，穩建經營，成長快速。營益率雖低，卻始終獲利，2013年上半淨利率幾為HTC的兩倍，而營費率僅有HTC的一半。營收約HTC的三分之一，獲利已達HTC的六成。