HTC’s Revenues Drop by 58% in Q2 2018 YoY

HTC’s rapid decline, which has been a regular fixture of recent months, continued into the second quarter of 2018, with its revenues getting sliced by 58% compared to the second quarter of 2017.

During the last quarter, the company made around $220 million in revenue, which is a huge decline compared to the $531 million it made in the same time last year. During the quarter, it also registered a loss of $67.8 million.

Another Phone On The Way

The company is yet to give up on making smartphones though, it has announced it’ll be focusing more on the AR/VR segments in the future.

Reports have shown another flagship phone with Snapdragon 855 and 5G connectivity in the works at HTC, however, by this point the issue might lie more with its marketing and availability, rather than the technical details. Its last flagship, the U11+, barely made a dent in the market, and at the current rate, it might have to license its phones to another company like HMD Global in Nokia’s case or TCL for BlackBerry.

Losing in VR

While the mobile division of HTC isn’t doing enough, the company is also losing ground when it comes to VR headsets. Shown in Steam‘s hardware survey, the Vive captured 42.58% of the VR market, compared to 44% in August. The Oculus Rift gained on the Vive, getting to around 47%, more than the 46% from a month back.

HTC has launched a bunch of hardware in recent times, including its most premium headset yet, at the start of this year, as well as a standalone headset last year. However, it isn’t getting a break from the market right now. If things continue at the current pace, HTC will go bankrupt in coming years.