Taiwan's stock exchange removes HTC from blue chip index
- 9 years ago
Taiwan's stock exchange has removed smartphone maker HTC from its index of blue chip companies, signposting the dramatic decline of a business that once ranked as Taiwan's No. 1 brand and dazzled consumers with some of the world's first Android handsets.
The exchange removed HTC from its FTSE TWSE Taiwan 50 index on August 21 after the company's market value declined below the level required for inclusion in the market benchmark.
In the past several years, HTC has struggled because of marketing and supply chain glitches as well as intense competition from Apple, Samsung Electronics and Chinese makers such as Xiaomi.
Last month, it announced a 15% cut in its staff of about 15,700 after a second-quarter loss of $247 million.
The exchange removed HTC from its FTSE TWSE Taiwan 50 index on August 21 after the company's market value declined below the level required for inclusion in the market benchmark.
In the past several years, HTC has struggled because of marketing and supply chain glitches as well as intense competition from Apple, Samsung Electronics and Chinese makers such as Xiaomi.
Last month, it announced a 15% cut in its staff of about 15,700 after a second-quarter loss of $247 million.