Last year was HTC's worst ever; revenues have fallen 87% since 2017
HTC’s revenue between January and December 2019 totaled just $332.85 million, down a huge 57.85% from the $789 million the company successfully generated just twelve months earlier. The results also represent an even larger and much more worrying 87% drop from the $2 billion HTC grossed in 2017.
As pointed out by Bloomberg’s Tim Culpan, these latest figures mean that HTC now generates less money from selling its products in an entire year than Apple does in a fortnight selling only AirPods to consumers.
The company hasn’t yet disclosed its financial losses for the fourth quarter or the entire fiscal year, but things certainly aren’t looking positive because it has already posted losses in the previous three quarters.
HTC has almost entirely abandoned the smartphone market this year, hence the massive drop in revenue, but is expected to make a return to the highly competitive premium segment at some point in the near future with a 5G flagship.
The company’s new CEO seems confident about its ability to compete, but so have previous executives, so only time will tell.