HTC is desperately trying to stay afloat with its endless losses

The mobile market has been experiencing some changes these past couple of years as South Korean and Taiwanese companies continue to lose ground to their Chinese competitors. With more than $265 million in losses last quarter and even more losses to come, no company understands this as well as Taiwan’s HTC. The company announced that it will be cutting jobs and focusing more on high-end smartphones in order to stay alive, but will that be enough. 

Taiwanese smartphone maker HTC Corp said it would cut jobs and discontinue models as part of its strategy to focus on high-end devices to better compete with the likes of Apple Inc and Samsung Electronics. “The cuts will be across the board,” Chief Financial Officer Chialin Chang told reporters after HTC reported a second-quarter loss and forecast another for the third-quarter. “They will be significant.” Chang said the cost reductions would extend to the first quarter of next year, but declined to give further details. A pioneer in early smartphones, HTC has been dismissed by industry watchers as confused, unoriginal and uncompetitive. The company has been losing market share over the past few years, hit by intense competition at the high-end of the market from the likes of Apple and Samsung Electronics while budget Chinese rivals have also eclipsed its low-cost offerings.