HTC announced its worst drop in revenue in over two years.
In June, the Taiwanese company’s revenue slid by more than 67% year-over-year despite the recent release of the U12 Plus. The revenue made during that month totaled just $73.1 million. As for the entire year so far, HTC hasn’t done much better. Since the beginning of 2018, HTC’s generated $510.7 million in revenue and every month the number boosting that gets smaller.
What we don’t know, by the way, are HTC’s expenses. It’s very likely the business is no longer profitable considering these massive dips that don’t seem to be stopping or even slowing.
The struggling brand is also slashing its workforce dramatically in an effort to keep costs under control. Somewhere around 1,500 jobs will be dropped.
In the months ahead, expect to see more structural changes within the organization. HTC could decide to unload more assets to other companies. Then you have to wonder when HTC calls it a day and lets someone else decide the next steps.