HTC tumbles to new low ahead of first 5G smartphone launch

HTC only recently had one of its best months in almost a year, but new financial data shows that revenue collapsed dramatically in the month of July as the effects of a weakened smartphone business started to show again.

The Taiwan-based company generated only NT$ 284 million ($9.6 million) last month, down 35.6% from the NT$ 441 million ($15 million) it reported twelve months earlier. The number also represented a decline of 56.3% from the NT$ 649 million ($22.1 million) reported in June.

To make matters worse, July was not only the worst month of 2020 so far for HTC when it comes to revenue, but also the worst month on record in the company’s entire 23-year history. 

Moving forward, the future of HTC seems to depend on its small VR business which has continued to show signs of growth. But until that technology reaches mainstream audiences, smartphones are likely to hold an important role.

The release of the HTC Desire 20 Pro boosted revenues in June and with the HTC U20 5G around the corner, another temporary bounce is to be expected. The downside is that both of these products are limited to Taiwan.