updated 08:36 am EDT, Mon April 7, 2014
Low quarterly revenues could bounce back for HTC in next quarter
HTC is continuing its trend of poor financial results, with a loss in the first quarter that was lower than expected by analysts. The latest financial release shows quarterly revenues of NT$33.12 billion ($1.09 billion), giving the smartphone producer a net loss of NT$1.88 billion ($62.06 million) and an operating loss of NT$2.05 billion ($67.75 million).
Despite the bad financial news, there are a few notable asides in the release. Reuters reports that HTC broke its 28-month on-year revenue declines, rising by 2.16 percent in March. The results also predate the updated HTC One M8's launch and release, which is expected to help the company return to profit in the second quarter.
HTC One M8
In its previous financial results, the company had a quarterly revenue of NT$42.9 billion, giving it a quarterly net profit of NT$310 million. At the time of the results release, CEO Peter Chou confirmed the move to more mid-range devices, such as the Desire 610, addoing "we are going to communicate better with consumers." Chairwoman Cher Wang advised "The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market."