HTC to layoff 15 percent of its workforce as of Q3 2015

After just announcing a wave of layoffs at Lenovo earlier today, HTC now finds itself down a similar path. As much as 15 percent of the company's workforce will be shown the door over the next few months in order to create a more "flexible and dynamic" future for HTC. The move is expected to cut operating expenses by as much as 35 percent.

HTC CEO Cher Wang says the company will expand its portfolio to rely less on smartphone profits in the future. The smartphone arena is hotly contested due to rising Chinese manufacturers and while Apple has a strong grasp in the high-end segment, the entry- and mainstream-level segments are split more evenly between a handful of manufacturers. Companies like Xiaomi, OnePlus, Huawei, and ZTE continue to chip away market share from well-known manufacturers worldwide.

Exactly what market or markets the manufacturer will expand to remains to be seen. Previous devices included the HTC Flyer tablet and a push for Windows Phone 8 with the One M8. Ever since the failed HTC First Facebook phone, the manufacturer has been struggling to create the next sales hit. The HTC EVO series of smartphones was a great but ultimately short-lived success.

To add insult to injury, HTC is currently experiencing launch issues with the recent One M9+ in the Netherlands.

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