Smartphone manufacturer HTC has announced its intention to reduce its employees for a second consecutive year in efforts to realign its strategy and remain innovatively competitive, CoinDesk reports. The company stated that the strategy is to focus on a few marketable products comprising of its EXODUS the company’s series of blockchain-based smartphones.
The Taiwanese electronics giant which boasts of about 3,000 workers did not offer details of the downsizing such as the affected departments and the number of employees to be sacked. However, those who will be sacked will still be paid for two extra months and will enjoy end-of-year bonuses. The latest downsizing is the third for the company in five years. The Taiwanese-based company laid off 2250 workers in 2015 and last year, 1500 were also sacked.
HTC explained that the planned downsizing will help it to have an innovative advantage over its rivals in different products. As per the company, more resources will be allocated to expand VIVE, the virtual reality system and EXODUS, the blockchain-based smartphones sections.
The HTC EXODUS was released in May 2018 and has the capacity to link with decentralized platforms and enable the end users to download as well as operate decentralized apps (Dapps) just like other traditional apps operate in smartphones. The EXODUS smartphone can also be used like a hardware wallet offering the users with a safe and mobile device to store their crypto assets.
Earlier this year, the EXODUS developers added a crypto swap feature that allows easy exchanges among the ERC-20 based tokens.
The EXODUS series was made available for sale end last year and clients could only purchase it using cryptos. The company released its latest series in October this year and has the capacity to run a Bitcoin node. There are plans to enhance the next series to support Binance Chain.
HTC is facing intense competition from other smartphone makers like Samsung which introduced S10 that can run ERC-20 platforms and is compatible with Bitcoin. LG and Google are also contemplating introducing their own blockchain-powered smartphones.