HTC suffers largest drop in monthly revenues in two years

HTC recorded revenues of NT$2.23 billion or US$73 million for the month of June, a 68 percent decline on the period last year. On a proportional basis, it is the largest annual drop since March 2016 when revenues hell by 79.3 percent.

The Taiwanese company recently launched its latest flagship smartphone, the U12+, while this time last year, it was beginning to sell the U11, making this apples-to-apples comparison even more galling. Increasing technical competition from mainland Chinese brands such as Huawei and Xiaomi as well as a recalcitrant Formosa cohort, ASUS, are believed to be the primary factors in the drag across flagship, mid-tier and entry offerings.

HTC laid off 1,500 employees this week at its main factory in Taiwan and has given 2,000 engineering positions to Google in exchange for US$1.1 billion. TrendForcce expects the brand to manage less than 2 million shipments this year.

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.