Facebook Home's First Try Is Over

By Evan Niu, CFA – Jun 27, 2013 at 6:30PM

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After a terrible launch, the HTC First is effectively dead. AT&T has now cleared out its remaining inventory, and Facebook needs to head back to the drawing board with Home.

The HTC First, which is the first smartphone to come with Facebook (META 0.14%) Home installed, has been a total failure. After launching exclusively on AT&T (T -1.21%) in April, it was almost immediately dropped to $1 on contract -- a clear sign that it wasn't selling well. Ma Bell has recently confirmed that it has sold through its remaining inventory, thanks to the aggressive promotions, ending Home's first attempt.

A separate study also showed that 91% of respondents had no interest in Facebook Home whatsoever, adding insult to injury for the social network.

In the video below, Fool contributor Evan Niu, CFA, discusses whether or not Facebook needs to revamp its mobile strategy.

Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Facebook. The Motley Fool owns shares of Facebook. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.