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HTC posts yet another huge quarterly loss for Q3 2015
It’s no secret that HTC has been struggling as of late, and it still looks like things aren’t getting any better. As reported by The Wall Street Journal, HTC has achieved yet another huge loss for the third quarter in 2015.
The Taiwan-based smartphone manufacturer has announced that its net loss for the three months ending on September 30th was NT$4.48 billion (~US$138 million). This is compared with a net profit of NT$0.6 billion a year earlier. HTC’s revenue has also dropped to just NT$21.4 billion (~US$658 million) from NT$41.9 billion (~US$1.29 billion) in the same period a year earlier.
Unfortunately, this shouldn’t come as a surprise for anyone who has been following HTC over the past few years. The company was recently dropped from the TWSE 50 Index, which is the stock market index of Taiwan’s 50 largest firms. This is after HTC announced its plans to cut around 15 percent of its workforce in an effort to cut costs and improve its profitability.
Although it’s clear that HTC’s mobile efforts are dwindling, all hope isn’t lost for the company. HTC is planning to form a new business unit to focus on virtual reality and connected lifestyle products. The HTC Vive really impressed us when we got a first-hand look at the VR headset back at MWC 2015, so for now, we’ll remain hopeful that the company will get back on its feet sometime soon.
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