HTC Lays Off 1,500 as Device Star Fades

HTC announced Monday that it has laid off 1,500 employees in Taiwan — or over 20% of its workforce — as it continues to struggle to maintain a foothold in the mobile device market.

High Tech Computer Corp. (HTC) (Taiwan: 2498) has now dropped to an also-ran smartphone vendor position, behind Apple, Samsung, Huawei, Xiaomi and OPPO, where in 2010, it was the fourth-placed vendor, according to IDC . The latest release from the company is the HTC U12+.

Google (Nasdaq: GOOG) bought out the HTC engineers that developed its own-brand Pixel phone line for $1.1 billion in September 2017. That transition helped relieve financial pressure on HTC, but also deprived the vendor of engineering talent. (See Google Buys HTC’s Pixel Team for $1.1B.)

HTC shares are down 0.53% to $56.60 TWD (USD$1.85) on trading on the domestic Taiwanese market Monday. – Light Reading

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