Shares in the former Taiwan index heavyweight HTC crashed to a 16-year low last week as the ailing smartphone maker revealed that sales had gone off a cliff.
Monthly sales were a stomach-churning 54% down on a year ago and the lowest since 2003. It was rewarded with falls of around 7% on both Friday and Monday this week, taking the share price to just 3% of its 2011 high.
The company is being eaten alive in the smartphone market and has made a baffling segue into the virtual reality sector. Last year it racked up record losses and only staved off a first quarter loss this year by unloading its smartphone original design manufacturing (ODM) assets to Google for $1.1bn. In July it announced 25% staff layoffs.
