HTC's June revenue collapsed by 68%

The Taiwanese company HTC is still in a crisis, the scale of which is growing every month. Contrary to expectations, June was no exception - at the end of the month, the company's revenue fell by 67.6% compared to June last year, Reuters reports.

As Phone Arena notes, sales of the flagship smartphone HTC U12+ and the Vive Pro virtual reality headset could improve the company's position, but the new smartphone appeared on the market only at the end of the month, and as a result, HTC's revenue amounted to only $73.1 million, whereas a year earlier HTC earned $226.1 million. This drop in revenue was the largest since March 2016.

Thus, the company, which a few years ago was one of the leaders in the smartphone market, is still in a difficult situation, and its future remains unclear.

Let's remember that HTC recently announced its intention to lay off 1,500 employees, which is almost a quarter of the company's total workforce (6,450 people). According to the announced plan, layoffs will only affect HTC's Taiwanese factory. This step, according to management, will optimize production and ensure more flexible and efficient resource management in the future. The staff reduction process is expected to be completed by October this year.

At the end of April, HTC's revenue decreased by 55.5% compared to April 2017. The company's March revenue fell 46.7%.