Hanvon, one of China’s largest eReader makers, gathered its sales agent together for conference this past week.
Digitimes is reporting that things aren’t going well for the company. Hanvon is predicting a net loss of 90-98 million yuan for the first half of 2011. This is a big drop from 2010, where Hanvon posted a 40 million yuan profit for Q1 2010.
It’s responding to the drop in income by aggressively lowering prices. Hanvon has lowered the retail price for its entry level eReader, the N510, by 40% (from 990 yuan to 599 yuan), and it’s cut the prices 0f its high end models from around 3,000 yuan to 2,000 yuan.
image by andy castro