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HTC unveils new Mango phones in Europe

2011/09/02 15:14:36

Taipei, Sept. 2 (CNA) Taiwan's HTC Corp. unveiled Friday two smartphones running Microsoft's next release of Windows software, code-named Mango, but investors tempered reactions due to weakening global demand.

The world's No. 5 smartphone maker introduced its new HTC TITAN and HTC Radar at consumer meet-ups in London, Paris, Madrid and Berlin, hoping consumers could try out the latest Mango phones at first glance.

"HTC has a long-standing partnership with Microsoft, which has been bringing out a series of innovation Windows Phones," HTC CEO Peter Chou said in a statement. "We have combined new features on Microsoft's latest operating system with HTC phones, making them more simple and more user-friendly."

"Phones were originally designed for communication, but they haven't kept up with the way consumers are actually communicating today. That's why we built Windows Phone to put people first, building in all the key types of communication people are already using right out of the box," said Andy Lees, President of Windows Phone Division.

The HTC TITAN, with a 4.7-inch super LCD screen and a thickness of 9.9 milimeters, allows users to type quickly with a huge virtual keyboard and store documents in the cloud with Microsoft's OneNote software.

The 3.8-inch HTC Radar features Microsoft's "People Hub," which enables social network updates without switching applications or disrupting the conversation flow.

Both TITAN and Radar will go on sale in Europe and Asia from October this year, HTC said.

Given the global economic downturn, however, Credit Suisse has lowered the overall smartphone unit estimates by 3 percent to 468 million this year and by 5 percent to 624 million in 2012, saying that HTC's growth will become moderate.

"By operating system, (Nokia's) Symbian and (HP's) WebOS are seeing the biggest downward revisions, and Windows Mobile (WM) is seeing upward revisions. The combined unit share of Android and WM increased to 59.7 percent, which should favour major players like HTC," the Swiss bank said in a research note.

Credit Suisse maintained an "outperform" rating on HTC but lowered its target price to NT$1,000 (US$34.5) from NT$1,070 on the back of global smartphone estimates revisions.

"We continue to think the market is too bearish on this name, as the stock is trading at an undemanding valuation," the brokerage said.

Credit Suisse's new estimates still imply moderate share gains for HTC from 8.3 percent in 2010 to 11.4 percent in 2012, while it believes smartphones will remain one of the most attractive secular trends in technology, with volume set to grow at a compound annual growth rate of 28 percent in the long term, reaching 1.03 billion units by 2015.

(By Jeffrey Wu)