HTC Sackings Won’t Affect Production Of ‘World’s First Blockchain Phone’

HTC smartphone manufacturer’s recently confirmed series of sackings will not impact the development or production of the HTC Exodus, which according to the firm will be the “world’s first native blockchain phone.”

The Taiwan-based firm this week revealed that it will be sacking 1,500 workers, about 25 percent of its international workforce, as it plans to restructure and consolidate its operations.

The company spokesperson noted that the sackings would not impact the development of the Exodus, adding:

“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.”

Earlier this year, the firm announced the development of the HTC Exodus, which it claimed will be the first smartphone to offer native support blockchain applications. The phone’s development is being spearheaded by “chief decentralized officer” Phil Chen, popularly known for helping develop HTC’s famous virtual reality headset line Vive.

HTC states that the Exodus will be developed particularly to promote decentralized applications (dApps) and will feature a universal cryptocurrency wallet that is native to the device and safeguarded by a protected hardware enclave.