HTC’s woes continue, removed from top 50 Taiwanese index

The hits keep on coming for embattled smartphone maker HTC. They’ve had a rocky year with smartphone sales down and a shakeup at the top of the company, and now they’re taking another hit. Following a downward spiral of stock prices, the Taiwanese Stock Exchange FTSE TWSE Taiwan 50 Index will remove HTC’s listing. As of September 21st, the tech giant will be replaced by a textiles company on the index. The top 50 index lists the biggest and best of Taiwanese blue chip stocks representing nearly 70% of the country’s stock market.

HTC was once on top of the Android world. They were the biggest Android OEM even making the HTC Nexus One, the first reference device from Google. They’ve gone on to work on a few more projects with Google, namely the Nexus 9 tablet, but have fallen on hard times. The HTC One M7 was lauded by critics on release for it’s beautiful design and build quality, but the inability for HTC to adjust to a changing market, and lack of compelling mid and low tier options have left HTC reeling.

HTC is rumored to be announcing two new flagships at the end of September. This may be a make or break announcement for the company.

Source: CNET