News by Pablo Jimenez on Friday October 30, 2015.
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HTC has announced its third quarter financial report, and as you can probably guess, it is not good news for the struggling Taiwanese brand. Things have been getting progressively worse for HTC through the course of this year, even so bad as for the company's stock to crumble and it to lose virtually all of its brand value.The third period of this year did not provide any rest bite for the ailing smartphone giant, with the company posting $139 million in losses off revenue of $660 million. The company almost doubled that revenue through the June 1 - September 30 period of 2014, while in Q2 the revenue was 7% higher. HTC did manage to reduce losses quarter on quarter by $18 million, but the company is still deep in the red through the last three months. When companies consistently lose money it is usually the workforce that pays, and so it will be this time as HTC says it will cut 15% of its staff in a bid to cut 38% of expenditure. The problem for the company is that things do not look like getting better. The HTC One M9 was an underwhelming flagship smartphone, but it was still excellent in most areas. The recently launched One A9 is worse than underwhelming, it is downright frustrating and it is not going to be good enough to turn the ship around. Sure, HTC has the potential to dazzle us, and who knows what its next flagship will be, but it is increasingly looking like that next year could be the last throw of the dice.