HTC today posted its financial results for the second quarter of 2014 where it has managed to earn an astounding growth and profit. The company reported a massive 97 percent jump in revenue from NT$ 33.1 billion to NT$ 65.1 billion compared to the first quarter of this year. 

It reported a net profit of NT$ 2.4 billion for the second quarter after a few consecutive quarter of losses. On a quarterly basis, HTC’s operating profit increased by 118 percent while on a yearly basis, it grew by an astounding 220 percent. HTC also noted that the One (M8) is doing very well in the United States especially with its availability on all the four major carriers.

In India and China, the company maintained its sales momentum thanks to a widely catered product portfolio. In its home market — Taiwan — HTC ranked number 1 for the first time in unit share and value share, thanks to the strong sales of the Desire 816 and the One (M8).

However, the company stated that since it has now entered a “product transition period”, its sales for the third quarter are going to be affected. In fact, in July itself, the company’s sale fell by a whopping 51.6 percent. The company forecasted that for the July-September quarter, it expects its revenue to go down in the range of NT$ 42 billion to NT$ 47 billion.

With the launch of the Galaxy Note 4 and the next-generation iPhone, HTC sales are bound to suffer in the next quarter especially since it does not have any flagship handset or phablet lined-up for release. The company, however, is working with Google on a new Nexus tablet but that alone should not be enough to save its revenue from tanking drastically in the next couple of quarters.