HTC Posts Q1 Loss Of $62M As It Pins Hopes On Its New One Flagship (again)

HTC posts Q1 loss of $62M as it pins hopes on its new One flagship (again)

BY Abhijeet Mishra

Abhijeet Mishra

Abhijeet holds an avid interest in mobile technology, and uses Android as his OS of choice (though he indulges in an iPad when it comes to tablets). You can usually find him catching up on all the lat...

All Articles by Abhijeet Mishra

Published 7 Apr 2014

Why trust Greenbot

We maintain a strict editorial policy dedicated to factual accuracy, relevance, and impartiality. Our content is written and edited by top industry professionals with first-hand experience. The content undergoes thorough review by experienced editors to guarantee and adherence to the highest standards of reporting and publishing.

The HTC One might have spent a lot of time on charts proclaiming it to be the best Android handset ever produced for a major part of 2013, but it looks like that hasn’t helped HTC turn around its continually flagging fortunes. The Taiwanese manufacturer has posted unaudited financial results for the first quarter of 2014, revealing a loss of NT$1.88 billion ($62.06 million) on quarterly revenue of NT$33.12 billion ($1.1 billion).

That’s higher than what analysts had predicted ($52 million), and the second loss-making quarter in the past three quarters of HTC. Sales did increase in March in what was the first month-to-month increase in revenue since October 2011, but overall, revenue in Q1 saw a big decline as it slipped nearly 23 percent to NT$33.12 billion (approx. $1 billion). Market share has dipped as well, with HTC now holding a mere two percent of the global smartphone market share, down from 10 percent two years ago.

As expected, HTC is hoping the HTC One M8 will help it return to profit as the handset begins to roll out globally in the coming weeks, though it remains to be seen if the latest One flagship has a noticeable impact.