If you’ve been following HTC’s earnings reports for the past couple of years, you probably know how much trouble the smartphone maker’s been having lately. Fierce competition and underwhelming product launches caused HTC to lose millions of dollars in 2017, and it doesn’t seem like December did the company any better. Its fiscal report for the fourth quarter of 2017 shows that earnings dropped to their lowest level in more than a decade.
Some analysts predicted that the Taiwan-based company would turn things around after a restructuring plan and renewed focus on its core product lines. But in the end, HTC raked in just NTD 4.02 billion (about $136 million) in revenue for the month of December — a 29.2 percent decline compared to November 2017, and a dip of 37.25 percent compared to December 2016.
In terms of year-over-year performance, HTC didn’t fare much better. It brought in NTD 62.12 billion ($2.1 billion) in revenue, the lowest in 13 years.
The earnings report might not tell the whole story, of course. HTC released the HTC U11+ in December 2017, which might have been too late to impact Q4 revenue, and a $1.1 billion deal between Google and HTC was recently approved. But no matter how you slice it, HTC’s in dire need of a turnaround.
Via: GSM Arena Source: HTC
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