Smartphone and VR headset manufacturer HTC ended the year with a steep decline in revenue, according to a news release issued by the company last week.
The company announced unaudited consolidated revenue for December 2017 of $4.02 billion TWD (approximately $136 million USD), and total unaudited consolidated revenue from January to December 2017 of $62.12 billion TWD (approximately $2.1 billion USD).
Those revenue numbers represent a 29% month-to-month decline and 36% year-over-year decline. Reports indicate that HTC’s yearly revenue marks its worst performance in over a decade.
Some of the revenue decline may be due to aggressive price cuts during 2017, which saw both HTC and Oculus drop the MSRP on their flagship VR products. Loss of market share in the mobile phone market also appears to be a factor in HTC’s fiscal woes.