HTC reports major revenue reductions

Yesterday HTC released their monthly and year-to-date revenue figures for 2018 and things are looking really bad for the company. Sure, things have been bad for HTC for several years now prompting the company sell off a significant portion of their business to Google. Even with that, two rounds of layoffs in their U.S. and Indian operations have occurred this year. HTC continues to release new phones, like the HTC U12+ this summer, but that does not seem to be slowing the nosedive.

According to HTC, August revenues were approximately $45.2 million USD, which is essentially flat compared to July 2018. However, a year ago HTC pulled in $97.6 million, so monthly revenues are down almost 54% year-over-year. Monthly performance for August is consistent with their year-to-date performance which is also down 54%. Thus far this year the company brought in $580 million versus $1.3 billion at this point in 2017. Sources are projecting HTC may not make it to the $1 billion mark for the whole year unless something changes the current trend. If HTC fails to make that threshold, it would be the first time in more than a decade that HTC did not bring in at least $1 billion.

Over the years we have watched HTC continue to decline. Despite their struggles, the company kept finding ways to keep things going and they keep churning out new models in an attempt to keep pace with the rest of the major players in the smartphone market. 2018 seems to have seen things accelerate in a bad way for HTC. While there was always a bit of a question about how long HTC could stay in business, it tended to stay safely in the background. That could change over the coming months, especially if HTC is forced to shut down any other parts of their operations.

source: HTC
via: phoneArena

About the Author: Jeff Causey

Raised in North Carolina, Jeff Causey is a licensed CPA in North Carolina. Jeff's past Android devices include an HTC EVO, a Samsung Note II, an LG G3, and a Motorola Moto X Pure Edition along with a Samsung Galaxy Tablet 10.1. He currently uses a Samsung Galaxy S8 and (very rarely) a Nexus 7 (2013). He is also using a Verizon-branded Motorola Moto Z Play Droid supplied by his job. Jeff used to have a pair of Google Glass and a Moto 360 Sport in his stable of gadgets. Unfortunately, his kids have all drunk the Apple Kool-Aid and have i-devices. Life at home often includes demonstrations of the superiority of his Android based devices. In his free time, Jeff is active an active runner usually training for his next marathon, owns a Mazda MX-5 Miata, and plays Dungeons & Dragons. Jeff has three grown kids and a golden retriever.

  • David Martrano

    The rise & fall of a once great company. This would make a very good book, maybe even a best seller. Once, a very revered company reduced to ashes. It seems to be a crying shame. Their latest phones appear to be very good but the problem is they quickly become the phones that no one is buying. I firmly believe without marketing of any kind & a definite lack of carrier support the sales just aren’t there. Sadly I think the times have passed them by! Now there’s been talk about this Blockchain phone and priced at over a thousand dollars. Is this really what they need at this point in time? Plus it has been appropriately named the EXODUS. Will this phone be their final curtain call?