HTC's trip down the spiral continues as company records 55% drop in revenue
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Another month, another tale of HTCs woes. The company has recorded a series of consecutive drops in revenue over the past six months or so, and April wasn't any different.
HTC released its revenue figures for the first quarter of the year, with the data showing the company's ever-dwindling fortunes in the smartphone market. Going by the released figures, the company saw a massive 55.4% year-on-year drop in revenue in April. Q1 as a whole was equally thankless, as total revenue for the quarter came in at US$365.3 million, 43.4% down from the same period in 2017.
HTC has failed to release a device with an actual positive impact on the market for a while now. Flagships like the U11 and U11+ were plagued by a lukewarm public reception and immediate unavailability respectively. Mid-rangers like the U11 EYEs, U11 Life, and budget devices like the new Desire 12 phones have been considered overpriced—a death sentence in a highly-competitive market dominated by the likes of Xiaomi and Huawei.
The company will attempt to fight back against the flow with the release of the upcoming U12+, with the U12+ expected to be the only flagship to bear the HTC crest this year.