Smartphone maker HTC continued to struggle in the wake of falling sales as the company on Monday posted a net loss of $138 million on just under $658 million in revenue in the third quarter 2015.
The report, which was not unexpected, marks the second straight quarterly loss for the smartphone maker. In the second quarter 2015, HTC recorded a net loss of $256 million.
Over the past year, HTC has seen its sales figures continue to decline as tough competition and a lack of marketing have progressively squeezed the brand out of its market share. In the first quarter 2015, HTC’s market share had dwindled to 3.8 percent, down from 10.7 percent in 2011.
The slide – which continued into the third quarter despite HTC’s July release of four new budget smartphones – forced the company to announce a restructuring plan in August that will cut 15 percent of its workforce and prompted the Taiwan stock exchange to remove the company from its index of blue chip companies in September.
But HTC hasn’t given up yet. At the end of September, the company announced on Twitter that it will unveil a new device on October 20 that will run on the newly released Android 6.0 Marshmallow operating system.