HTC, one of the world’s leading smartphone manufacturers have recently announced a round of redundancies but have stated that this will not affect the manufacture of the HTC Exodus- the world’s first native blockchain phone.
The Taiwan-based tech giant announced that they would be letting go around 1500 employees, a total of around 25% of its global workforce. This move to streamline and consolidate its operations is reportedly not going to have any impact on the development or release date of the new Exodus handset.
A company spokesperson stated:
“Today’s reduction in manufacturing workforce announced by HTC is a decisive step in the realignment of resources across the organization and will allow more flexible operations management. The Company will offer full assistance to those employees affected by the plan, which will be completed by the end of September. HTC continues to review its operations to ensure production resources align with key strategic initiatives so that the Company can more effectively compete in its target markets while maintaining its innovative edge.”
The first smartphone to provide blockchain support
The firm announced the development of the HTC Exodus earlier this year which will see it become the first smartphone to provide native support for blockchain applications. The development of the phone is being led by the Chief Decentralised Officer, Phil Chen who is otherwise known for the creation of the HTC virtual reality headset, Vive.
The Exodus has been specially designed to support decentralised applications as well as featuring a cryptocurrency wallet that is both native to the device and universal in terms of the coins it will accept.
At one point in time, HTC was responsible for producing one in 10 mobile devices that were sold around the world. Unfortunately, the company soon lost ground to Apple and Samsung and this decline has become even more drastic over the last 18 months. In April 2018 the firm noted a decrease in revenue of 55.5%.
The recent round of redundancies comes after last years $1.1 billion deal with Alphabet which saw it move 2000 of its engineers and team members to Google.
The crypto startup, Sirin Labs has also announced its intention to launch a blockchain-powered smartphone. Called the “Finney” after the early Bitcoin user Hal Finney, the device is priced at $1000 and is reportedly ready to ship a little later this year.