The last time HTC’s revenue was this low was before Android’s creation | Apps & Software
- HTC revenue just dropped to the lowest it’s been since 2003.
- Profits for the company are still up, but that’s mostly due to Google’s acquisition of HTC staff.
- If things continue on this trend, HTC as we know it could be in big trouble.
HTC posted its quarterly earnings report for Q2 2018 and — surprising no one — the report is very bad. HTC’s revenue is the lowest its been since 2003, a full 15 years ago.
That means that the last time HTC reported revenue as low as this past quarter, Android, Inc. was months away from coming into existence through Andy Rubin’s team, and years away from Google’s purchase of the platform in 2005. In August of 2003, the first Pirates of the Caribbean movie was in theaters along with the third Terminator movie.
In 2003, HTC’s primary money-maker was a Windows Mobile PDA.
I can’t overemphasize how bad this report is.
Compared to July 2017, HTC’s revenue is down 77.41 percent. So far this year, overall revenue is down 54 percent since this time in 2017.
However, there is a silver lining to the report which is that HTC’s profit is still up by a good 19 billion NT (~$620,587,500). But this is mostly due to capital gains and Google’s acquisition of a large chunk of HTC engineering staff.
With the continuing trend of horrible earnings reports coming in, it’s soon going to be time for HTC to seriously evaluate its standing in the mobile industry. This report (and previous ones) make it clear that its strategies are not working.
Will its upcoming blockchain phone be what saves the brand? Or will it just dig a deeper hole?
NEXT: At this point, what can HTC do to save itself?