Taipei, Dec. 7 (CNA) Taiwan-based smartphone brand HTC Corp. saw a monthly sales drop of 16 percent in November, which market analysts attributed to escalating competition in the global smartphone market.
In a statement Friday, HTC reported NT$550 million in consolidated sales for November, down 16 percent from a month earlier and the second consecutive monthly decline.
The monthly drop, however, was not as steep as in October, when the company's sales fell 48 percent to NT$660 million, HTC data showed.
Still, the November figure was 62 percent lower than a year earlier, which was indicative of the headwinds HTC is facing in the high-end and mid- to low range smartphone segments of the global market, analysts said.
Although HTC has entered the virtual reality business with its Vive headset and other products, those devices accounted for only a fraction of its total sales in November, analysts said.
The company has launched Blockchain smartphones, used for cryptocurrency transactions and has also kicked off its 5G technology development, but those efforts are not yet showing satisfactory results, analysts said.
In the first 11 months of the year, HTC's consolidated sales stood at NT$9.41 billion, down 57.98 percent from a year earlier.
HTC's VR products were on sale in the United States at discounted prices Nov. 28 to Dec. 2, as the company sought to cash in on the annual Black Friday sales extravaganza -- the day after Thanksgiving.
In Taiwan, the company in November released its latest mid-range phone model, the HTC Desire 19s, and a new Blockchain smartphone that was developed jointly with the global cryptocurrency exchange Binance.
The company also said it is offering discounts on its products in Taiwan in December.
On Friday, HTC unveiled its new Viveport Streaming services for gamers using its VR headsets.
In the third quarter of 2019, HTC reported a loss for the 16th time in 17 quarters. For the first three quarters of the year, HTC posted a loss per share of NT$8.55.