HTC’s revenue has fallen 97%, the worst performance in 15 years

According to HTC’s second-quarter earnings report for 2018, HTC’s revenue in the second quarter was 6.774 billion Taiwan dollars (about 1.504 billion yuan), down 58% year-on-year, and the net loss was $2.09 billion (about 464 million yuan). This is also HTC’s continuous loss in revenue for more than ten quarters.

In August of this year, HTC’s revenue was 1.388 billion Taiwan dollars (equivalent to 308 million yuan), a sharp drop of nearly 77% year-on-year. This is the worst monthly HTC revenue since September 2003.

At the same time, following the global layoffs of 15% in 2015 and the sale of mobile phone OEMs to Google last year, it was announced in July this year that it would lay off 1,500 employees in the Taiwan manufacturing sector in order to transform.

In addition to smartphones, HTC also entered the VR field and launched the HTC Vive, a head-mounted VR device. This is also regarded as a product launched by HTC. HTC founder and chairman Wang Xuehong also said that AR/VR is HTC’s main strategy.

All hope is not lost for the company, but HTC needs to pick itself up and make wise decisions because it’s impossible for the company to remain intact if revenue doesn’t rise while costs stay under control.