Yesterday, HTC, one of the tech companies that gets it right with their Smartphones announced that they were in the same dilemma Blackberry and Microsoft faced some months back. According to The Guardian, HTC suffered a net loss of Tw$8 billion (USD$253) which is the company’s biggest net loss ever. The loss has been tied to the brand’s major competitors – Xiaomi, Samsung, and iPhone.
Not only did HTC lose profit, it will also do what Microsoft did – sack employees.
The company said it would cut jobs and discontinue some of its models to focus more on high-end devices. “HTC has begun to implement company-wide efficiency measures to reduce operating costs across the organisation and ensure resources are appropriately allocated to future growth,” the statement said.
A chart from Business Insider shows HTC’s share price after its earnings announcement. See the huge fall? #sigh
Image Source: Business Insider
I have always been a fan of HTC, so I feel sad that this is happening.
What are your thoughts?