HTC aims to turn things around by cutting jobs and smartphone models

HTC remains in troubled waters and the latest earnings report shows the company has returned to the red, so drastic measures are required. Chief Financial Officer Chialin Chang has told the media that HTC will need to take a serious look to cut jobs, expenditure and even smartphone models to help revive sales.

"HTC shares have fallen 51 percent so far this year. The stock closed 1.69 percent lower before the results were announced. Chang said HTC was banking on selling high-end models in emerging smartphone markets such as India, where he said the company has a 20 percent market share of phones priced between $250-$400."

Chang also told reports the cuts will be significant and deployed across the board, and though further details weren't provided it's expected the cuts will extend to the first quarter of 2016. Analysts also see HTC continuing to make a loss throughout 2015.

Source: Reuters

Rich Edmonds