HTC to Trim Workforce by 15%
HTC announced that it will take several cost-cutting measures, including the elimination of jobs. HTC plans to cut about 2,250 employees, or 15% of its headcount by the end of the year, in order save money. Between the job reductions and other actions, HTC hopes to reduce expenses by about 35%. The company is also reorganizing a bit and will form new business units to help it better focus on selling phones, develop its virtual reality tech, and market its connected lifestyle products. Once a leading maker of smartphones, HTC's global share of the smartphone market has dropped to just 2% amid fierce competition at the high and low ends of the market.
HTC to Drop Entry-Level Phones, Focus On Profits
HTC plans to exit the entry-level phone market moving forward and will instead focus its handset portfolio on high-margin devices. The company made the comments during a conference call with media to discuss its fourth quarter financial results.
HTC Cuts the 10's Price By $100 for US Shoppers
HTC has dropped the price of the HTC 10 for the rest of the month. The phone now costs $599 when purchased from HTC's web site, a cut of $100.
HTC Says Red Version of U11 Coming to the US
HTC today said U.S. customers can pre-order the red variant of the U11 smartphone beginning June 20.
HTC to Trim Headcount and Handsets
HTC today said it plans to make cuts to its employee base and reduce the number of handsets it releases in a bid to become more competitive with market leaders Apple and Samsung. "The cuts will be across the board," said HTC CFO Chialin Chang.