A number of Chinese smartphone makers, including Lenovo, Huawei and ZTE, could snap up rival Taiwanese company HTC according to a new report from Bloomberg. The struggling Android OEM may still boast top-notch design and a recognizable brand, but its stock recently hit an eight-year low with the distinct possibility that it may post its first net loss since 2008 next fiscal quarter.
HTC has fallen far and hard in the past few years, after briefly ruling the market in 2011. The Taiwanese company was the first to use Google’s mobile operating software, and enjoyed a short few months at the top before being edged out on both sides by Apple and Samsung. Back in 2011, HTC claimed 24 percent of the smartphone market, now it’s down to 2.8 percent.
Meanwhile, a number of Chinese companies have quickly scaled up production as they flood the local market with more affordable products, but lack the global brand recognition necessary to market their devices to the rest of the world. Lenovo, which recently surpassed HP as the world’s largest PC shipper, has expressed a definite interest in acquiring other companies, and HTC may be ripe for the picking.