Top Android Smartphone Producer HTC Slash 15% of Its Workforce

HTC

HTC – as a part of its plan to reduce operating expenses by 35 per cent, will reduce around 2,250 employees by the end of this year.

On Thursday, Hong Kong-based Smartphone producer – HTC Corporation said it plans to cut 15 per cent of its workforce and slash operating expenses by more than a third, as the company has struggled to pull in consumers in a crowded smartphone market.

HTC’s latest restructuring comes after it gauge a week ago a net loss for the third quarter on weak sales and sluggish demand in China. The world’s top smartphone producer, in 2013, HTC dropped out of the top ten biggest handset merchants by shipments. The Taiwanese company has in past couple of years seen its global market share dwindle to around 2 per cent from twofold digits previously.

HTC – as a part of its plan to reduce operating expenses by 35 per cent, will reduce around 2,250 employees by the end of this year. The company will be structuring new divisions and units in order to concentrate on its key functional areas of premium smartphones, connected lifestyle products, and virtual reality handsets.

The share market status for HTC is currently on declining stage – the company that has topped in producing Android smartphones. It recently faced a tough competition with the companies like Xiaomi Corp., Huawei Technologies Co., and Samsung Electronics co.

Director Cher Wang, who returned to daily operations a year ago and has been doubling as CEO since late March, had said that the company is aiming to expand beyond the smartphone business, and added that it has recently introduce a virtual reality device, and fitness band in the market. HTC will soon venture into the market by introducing its innovations for its customers making it even better than ever.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Facebook

Leave a Reply

Your email address will not be published.

Recent Posts

Merck & Co. to Buy Seagen for $40 Billion

Merck & Co. to Buy Seagen for $40 Billion

Merck to buy Seagen in a deal worth $40 billion, allowing the former to enjoy monopoly in the cancer drugs market.
2 hours ago
Being a Pringles NPC Is a Dream Job with Real Pay

Being a Pringles NPC Is a Dream Job with Real Pay

To further promote the position, a talking Pringles vending machine, voiced by stand-up comedian Ian Smith, appeared at The Green, Boxpark Shoreditch on Tuesday 21st June to interv
5 hours ago
How Can CEOs Build a Culture of Innovation

How Can CEOs Build a Culture of Innovation

A healthy level of autonomy equips people with the ability to shape their environment. Pfizer’s Dare to Try initiative is a good example of how to create an innovative culture in
24 hours ago
The New Apple iPhone Concept Looks Waterproof

The New Apple iPhone Concept Looks Waterproof

The patent uses the word “moisture event” that can mean anything from a slight wetness to having the device completely immersed in liquid.
24 hours ago
Swiss Water Battery Gives Earth Lifeline In The Form Of Green Energy

Swiss Water Battery Gives Earth Lifeline In The Form Of Green Energy

Equivalent of 400,000 electric car batteries, the Swiss water battery is going to bring in stability in a great deal in terms of energy resources. The 900 MW ‘water battery’ wh
1 day ago
Crypto Crisis Takes Down Crypto Advertising

Crypto Crisis Takes Down Crypto Advertising

With stocks crashing and inflation rising, the crypto crisis has turned acute, showing us that it is connected to the overall market. Analysts predict that the downturn will contin
1 day ago