Published: Tue, July 03, 2018
Electronics | By Kelly Massey

HTC axes 1,500 people

HTC axes 1,500 people

As noted by Reuters, HTC once sold one in every ten smartphones globally, but recent years have seen the division's sales dwindle in the face of competition from Samsung, Apple, and increasingly popular Chinese brands.

HTC says that the layoffs are part of a move to unite the company's smartphone and VR business under the same top executives in each region where it does business.

Somewhat inevitably then, it has gone for the fastest and easiest way to do just that by getting rid of a huge amount of its fixed costs, ie: staff and their wages.

The latest "reorganization and optimization" effort of the company's feeble finances should be completed by September, at which point HTC will have less than 5,000 people left on the payroll.

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The NT$2.45 billion sales in May was also down 46 percent from a year earlier.

In the first quarter, HTC posted a net profit of NT$21.1 billion, compared with a net loss of NT$9.8 billion in the previous quarter, with earnings per share of NT$25.70.

HTC and Alphabet's Google struck a $1.1 bn deal previous year - a move that some took as a sign that HTC needed extra money to keep going.

Under the deal with Google, which was completed in January, about 2,000 HTC engineers who used to work for the ODM assets shifted gears to work for the US company.

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