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Business · TMT
HTC earnings decrease by 80%, hitting a new low
CKN
2018/10/09 07:24:24
3,158
China's Financial News, China News,  HTC

Oct 09, 2018 (China Knowledge) - HTC, a manufacturer for smart phone and Pad, has unveiled its unaudited earnings reports for September 2018.

The quarterly reports suggested that profit in September 2018 totaled USD 40.64 million, down 9.57% from the last month when HTC reported revenue of USD 45.21 million, a drop of 80.71% compared with counterparts, for the same period, the biggest decrease in earnings throughout the company's history.

Overall, its revenue for 2018 remained USD 633.41 million, 57% below; compared with USD 1.5 billion the same time last year. The company headquartered in Taiwan is likely to plumber below the maximum of USD 1 billion this year.

The company fired about 1500 employers from its manufacturing arm in summer, this year, for the sake of cutting costs and streamlining the administrations of its smartphones and VR devices.

In September, the Taiwanese hi-tech manufacturer reported its 2018 Q2 results, showing revenue of NTD 6.8 million (USD 220.6 million), down 58% compared with that of the second quarter last year. A net quarterly loss was up to NTD 2.09 billion (USD 67.8 million). It was the company's tenth consecutive quarterly losses.

 

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