After posting a drop in revenue and falling to its first-ever quarterly net loss, HTC, the once-high-flying Taiwanese smartphone maker warned that revenue will decline further in the fourth quarter, the Wall Street Journal reported Tuesday. However, cost cutting and the sale of assets should help it return to a small profit, the company was quoted as saying. The news came as HTC chairwoman Cher Wang has taken a more active role in managing the company in an effort to reverse its slide, the report said. HTC was the leading smartphone maker in the United States just two years ago. But its stock has plunged nearly 90 percent since its April 2011 peak as a weak brand and production problems put the company behind Samsung Electronics Co. and emerging Chinese low-cost rivals. HTC this year fell out of the top 10 for global smartphone market share, according to research firm Gartner.
– Contact HKEJ at [email protected]