HTC has announced plans to reduce costs and shift resources in an effort to boost growth following a pretty lousy quarterly earnings report. The company is reporting losses of more than $250 million for the second quarter of 2015.

As a result, Reuters reports HTC plans to cut some jobs and kill of some phone models.

htc one m9 me

A decade ago HTC was a company most people had never heard of. But HTC manufactured PDAs, phones, and other gadgets sold under the HP and Palm brands, among others.

The company eventually started offering products under its own name and became a major player in the Android and Windows phone space. But facing increasing competition, it’s starting to look like HTC might one day be a name most people are unfamiliar with unless the company can make some big changes.

HTC says demand for its high-end phones has been weaker than expected, which isn’t all that surprising: this year’s HTC One M9 has been widely criticized for basically looking exactly like last year’s HTC One M8 and adding few new features, while rivals including LG and Samsung continue to crank up the competition. At the same time, companies that have focused on lower-priced devices including Huawei, ZTE, and Xiaomi are producing phones that may be attractive to more budget-conscious shoppers.

So what does HTC plan to do to get people interested in its products again? TechCrunch reports that upcoming phones will likely include a new version of the HTC One M9 “that’s more ‘trendy,'” as well as new models with lower price tags.

HTC is also continuing to look into emerging product categories including virtual reality. The company’s HTC Vive VR headset is expected to launch by the end of 2015.

Support Liliputing

Liliputing's primary sources of revenue are advertising and affiliate links (if you click the "Shop" button at the top of the page and buy something on Amazon, for example, we'll get a small commission).

But there are several ways you can support the site directly even if you're using an ad blocker* and hate online shopping.

Contribute to our Patreon campaign

or...

Contribute via PayPal

* If you are using an ad blocker like uBlock Origin and seeing a pop-up message at the bottom of the screen, we have a guide that may help you disable it.

Subscribe to Liliputing via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 9,544 other subscribers

One reply on “HTC shifts strategy, cuts costs after $250 million loss”