Taiwanese government to lend HTC a helping hand
The once mighty Android hero HTC has lost its financial prowess due to bad sales and investment in recent months. This, in turn, has spooked investors from holding on to HTC’s shares in the stock market and they are now busy chanting ‘sell, sell, and sell’. As reported, no less than $1 billion in market value was wiped out from HTC’s vault in just two days. Taiwan’s Central Bank Governor, who spotted the troubling signs, made a case to the government to do their part in saving HTC.
Speaking at a cabinet meeting, Perng Fai-nan said that the financial status of HTC is “of vital importance to the islands’ gross domestic product” and urged government to provide some financial assistance. Realizing that HTC has been a great contributor to Taiwan’s economy, he believes that the “bailout” will help boost the country’s ever declining export numbers, which have fallen for 5 consecutive months.
And how did the Taiwanese government respond to the plea? According to the Commercial Times, the Ministry of Economic Affairs is already talking of ways to help the flailing phone maker. Hopefully this means HTC won’t have to skimp on its R&D spending and can keep churning out goods like the HTC One X or the rumored 5-incher HTC Endeavor C2.
Voice your support in the comments below if you’d hate to see HTC go down the drain!