HTC disappoints as April revenue slumps over 70%

By Natasha Li  /  Staff reporter

Tue, May 07, 2019 - Page 12

HTC Corp’s (宏達電) revenue fell 71.77 percent to NT$592.65 million (US$19.16 million) last month from NT$2.09 billion a year earlier, a disappointment following an otherwise hopeful March when revenue hit NT$1.31 billion due to an increase in sales of the company’s virtual-reality headsets.

Cumulative revenue for the first four months dropped 67.51 percent to NT$3.54 billion from NT$10.89 billion last year, the company reported yesterday.

Thing are looking increasingly worse as the smartphone maker struggles to stay afloat after reporting disastrous results for last year, with full-year revenue plunging 61.78 percent year-on-year to NT$23.74 billion.

Although new flagship devices are yet to be announced, a new HTC handset with the model number 2Q741 was pictured on the GeekBench Web site on Friday.

The device is rumored to be an upcoming mid-range smartphone, which would be a welcome surprise as the company loses market share to its peers.

According to research firms International Data Corp and Strategy Analytics Inc, HTC smartphones had a 1 percent or less market share last year.

In an attempt to revive cryptocurrency’s momentum, the company said that it is going to release a follow-up to the Exodus blockchain phone, which was launched in October last year and has apparently met the company’s sales expectations, HTC decentralized chief officer Phil Chen (陳信生) said.

The company last year launched only one other device, the HTC U12 series.

The second-generation Exodus phone would continue to carry cryptocurrency apps, while extending its blockchain applications to include other areas such as browsing, messaging and social media, Chen said last month at a technology forum in Taipei.

HTC is expected to announce its first 5G-flagship smartphone in the coming months, after launching a 5G mobile smart hub in February at the Mobile World Congress in Barcelona, Spain.