Things haven’t really been great for HTC over the past couple of years and the company’s fortunes haven’t really changed much for the better. In the earnings report it released today, HTC detailed its fourth consecutive quarter of losses and realized a loss of $148 million between January 1st and March 31st, 2016. Overall revenues are down a massive 64 percent when compared to the same period in 2015.
It merits mentioning here that these figures don’t represent the performance of the HTC 10, HTC’s latest flagship smartphone, which has been well received in some markets even if it’s fortunes in China don’t appear to be too promising.
One should also keep in mind that the figures don’t represent sales of the HTC Vive VR headset, it has received a lot of praise and appears to be doing well in the market against rivals like the Oculus Rift, we’ll have to wait for a few months to find out how the Vive contributes to HTC’s bottom line.
HTC Chief Financial Officer Chialin Chang has said that the company is going to steady the ship by trimming expenses in the current quarter and beyond. HTC has already sold some property and land, and it’s expected to downsize its operations as it looks to restructure itself into a smaller, more efficient company. Chang mentions that HTC is aiming to break even in its smartphone business by Q3 2016.