HTC cuts 15 percent of workforce amid weak sales

[froggyboy604]

As expected, smartphone maker HTC has announced more layoffs, and the cuts are brutal. The company will let 15 percent of its workforce go (over 2,000 employees), due in large part to falling revenues and profits. Last week the company reported shaky financial results, which it chalked up to worse-than-expect sales of its HTC One M9 flagship. It's also facing an ever-tightening smartphone market and more competition, especially from Chinese companies like Xiaomi and Huawei. The layoffs are part of a company-wide realignment, and CEO Cher Wang -- who took the reigns from Peter Chou in March -- tried to put a positive spin on it.

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This stinks for the people who lost their job because of poor sales at HTC. Hopefully, they can find new jobs.

I think people who buy Google Android phones are more likely to buy those $30-70 Android phones from Amazon, and eBay, and better quality cheap phones from Xiaomi, Huawei, ZTE, and Meizu which sells phones for $100-400+, so companies like HTC, Samsung, and LG are getting fewer buyers except from their most loyal buyers.

 

[Demon_Skeith]

I can see HTC being bought out in the near future.

 

[froggyboy604]

I can see HTC being bought out in the near future.

I agree, HTC maybe bought up.

HTC may also be eligible for a large government loan from the Taiwanese government where HTC pays no interest, or very little interests like how Canada loaned Vodaphone $850 million to help BlackBerry by using the $850 million to buy Blackberry services, and hardware.

HTC may also end up like Kodak which now sells printers, smartphones, and other products after they declare bankruptchy and are not selling cameras, or films