Consider a business idea that you know about that has failed. Take some time to research information about this business, why do you think it failed? What mistakes do you think the entrepreneur made when developing this business?

 Introduction

It took hundreds of millions of years for dinosaurs to evolve, but it takes only a few years for HTC. In 2008, HTC and Google jointly launched the HTC Dream, the world's first Android phone. In the next two years, HTC continued to launch new smartphones. As a pioneer, leading the global smartphone market and competing with iPhone. However, In 2011, Samsung, another major smartphone maker, regrouped, and HTC lost its leading position in Android. Moreover, afterward, challenges from China, Lenovo and ZTE’s cost-effective phones appeared on the market, and HTC’s market share continues to decline. At the same time, iPhone sales remained unaffected and continued to rise. 

In 2014, after the bad experience from One X to New One, HTC pinned its hopes on HTC One M8. It was an upgraded version of the HTC One. While continuing the integrated all-metal body, it sharpens the heavy and tough design of the HTC One to be smoother and more rounded to fit the grip. The durable body highlights HTC’s excellent industrial design and the effort has finally paid off. The M8 has made HTC profitable again. In HTC's 2014 second-quarter earnings report, HTC turned losses into profits, with a profit of US$92 million. In addition, the $2.2 billion in sales is almost equal to HTC's sales for the entire year last year. 

However, In 2015, Xiaomi's low-priced phones swept the market, and HTC fell into a tough battle. In 2016, more brands, the Oppo and Vivo ultra-high cost-effective models squeezed the market and of course, it gives HTC the fatal blow. In the meantime, iPhone sales continued to hit new highs. In the past few years of trend integration and sudden changes, HTC has failed from where it was at its most brilliant. All this seems to be a dream, a dream that has experienced rise, glory, loss, decline, rebirth, and death. 

Honey at that time, poison at this time. Many elements that once made HTC thrived, became the stumbling blocks for HTC's progress later on. In 2013, HTC even spent $1 billion in marketing and invited Iron Man actor Robert Downey, Jr. to represented its products. But, it is not only HTC that has failed, but also Nokia, Motorola, LG, and other manufacturers.

So, Why Did It Fail?

i. HTC focused too much on hardware research and development has never put its effort into cloud services, software, and mobile games. HTC’s innovation did not fill the need of consumers while its competitor, Apple, has developed its operating systems, hardware, and services to a whole new level such as the App Store, iCloud, Apple Music, iOS, Mac OS, and iPad OS. Apple's WWDC is always talking about apps, content, and services. After all, HTC did not follow up on the trend and lack of the understanding of what consumers actually need. Excellent products are just the foundation. They are only one part of the whole service. User experience and the content, and the services must be equally excellent and coordinated to have a long-term victory. 

ii. The Teamwork

In 2010, HTC hired many former managers from Sony and Microsoft. Their abilities were not good enough to lead this company to reverse the situation. Teamwork has become an omnipresent phenomenon all over the world. Companies have transitioned to teamwork as a vehicle to increase effectiveness, competitiveness, and productivity.

Reference

Millward, S. (2015, September 2). Tech in Asia - Connecting Asia's startup ecosystem. https://www.techinasia.com/htc-rise-and-fall-infographic.