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October 6, 2015

HTC suffers yet another quarterly loss

News: Company is facing tough competition from Apple, Samsung and Huawei.

By CBR Staff Writer

Taiwanese smartphone maker HTC has reported a net loss of NT4.48bn ($137.63m) the three months ending September, marking the second straight quarterly loss.

The company made a net profit of NT$600 bn ($18.3m) a year earlier. Revenue also slumped to NT$21.4bn ($654m) from NT$41.9bn ($1.28bn) in a year-on-year comparison.

HTC’s sales figures have been declining for the past four years as it struggles to compete with its rivals including Samsung, Apple and Chinese brands like Huawei and Xiaomi.

The company previously issued a profit warning which hinted the weak results for the three months to September.

Though HTC introduced new devices including the One M9, it could not revive its lost glory.

In 2011, HTC had a 10.7% of the global smartphone market, but according to latest estimates the company’s share in the market has slumped to less than 2%.

In August, HTC announced that it will slash 2,000 jobs which is estimated to be around 15% of its staff for restructuring in a bid to lower its operating expenses.

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HTC CEO Cher Wang then said: "We need a flexible and dynamic organization to ensure we can take advantage of all of the exciting opportunities in the connected lifestyle space."

Just like its rivals, Samsung and Apple, HTC is also trying to venture into new technologies that go beyond smartphones, as it has teamed up with games company Valve on a virtual-reality headset, the HTC Vive.

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