HTC just released its unaudited earnings report for September 2018. As expected, the Taiwan-based company has absolutely no signs of a turnaround.
The financial report shows that HTC's revenue in September 2018 reached 40.64 million US dollars, which is 9.57% lower than the previous month. At that time, HTC reported revenue of 45.21 million US dollars, and a year-on-year decrease of 80.71%, which is the company's history. The biggest income drop.
Overall, HTC's revenue is currently $633.41 million in 2018. This is 57% lower than the $1.5 billion reported last year. The Taiwan-based company is expected to fall to the $1 billion mark this year.
This summer, HTC announced that its manufacturing division has laid off about 1,500 people to reduce costs and simplify the management of its smartphones and VR devices.
In September, HTC announced its 2018 Q2 financial report. The financial report showed revenue of NT$6.8 billion (US$220.6 million), a 58% decrease from the second quarter of last year. The quarterly net loss was NT$2.09 billion (US$67.8 million). This is the company's tenth consecutive quarterly loss.