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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