HTC can’t appear to catch a break.

The once-king-of-the-hill smartphone vendor, which had a horrible 2018, continued to bleed final yr, in accordance with monetary disclosures it made on Monday.

HTC reported income of 10,015 TWD ($333 million) in 2019, down 57.8% from 23,741 TWD ($789 million) it posted the yr earlier than, and whopping 87% under over $2 billion it grossed in 2017. As Bloomberg columnist Tim Culpan identified, Apple now generates extra from promoting AirPods in a fortnight than HTC clocks from promoting every of its providing in a yr.

The drop in income comes because the Taiwanese agency scales again its smartphone enterprise — a sizeable portion of which it offered to Google two years in the past — and focuses on digital actuality headsets and equipment.

HTC has but to reveal how a lot cash it misplaced within the quarter that resulted in December, however within the different three quarters final yr, it misplaced 7.05 billion TWD ($234.four million).

Final yr, HTC made vital modifications to its smartphone technique in many countries together with India, the world’s second largest smartphone market. HTC not sells flagship and different high-end smartphones in India, and as a substitute focuses on mid-range handsets.

In September, HTC appointed a longtime telecom vet, Yves Maitre, as its new chief govt officer. In an interview at TechCrunch Disrupt final yr, Maitre candidly opened in regards to the once-iconic agency’s current efficiency, saying HTC had “stopped innovating within the {hardware} of the smartphone.”

“And other people like Apple, like Samsung and, most just lately, Huawei, have carried out an unimaginable job investing of their {hardware}. We didn’t, as a result of now we have been investing in innovation on digital actuality,” he stated.

Maitre has stated that the corporate will concentrate on digital actuality headsets and lots of of its purposes corresponding to coaching and training sooner or later. In current quarters, HTC has launched Vive Professional Eye headset for enterprises, revamped its consumer-facing VR headset to higher compete with Fb’s providing, and produced VR works on the Venice Movie Competition. It has not disclosed what number of VR headsets it has offered.

The corporate has additionally launched a 5G-enabled cellular hotspot for customers who don’t need to decide to a 5G smartphone simply but to benefit from the sooner obtain pace (offered their native provider helps it). It additionally refreshed its blockchain handset lineup in October final yr, including a less expensive variant to the combination.

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