First quarterly loss in HTC history-confirmed
Saturday 30 November 2013

First quarterly loss in HTC history-confirmed

A gloomy news has come out from HTC. Ever in the history of the company, a quarterly loss. Its unaudited income for the first quarter of 2013-they are on a loss. The Smartphone manufacturer made a net loss of NT$2.97 billion (about $101 million) on revenue of NT$47.05 billion (about $1.6 billion). Operating loss was NT$3.50 billion, or about $119 million.

HTC had earlier predicted revenues of between NT$50 and 60 billion for this quarter, a slip from analyst consensus and down on last year's NT$70.2 billion. The reason for this huge loss is found to be that sales of devices such as the HTC One over the past few months have failed to meet even the company's expectations, with revenue down 33 percent year-on-year. The loss is the first posted by HTC since it went public in 2002, and their rival Samsung has predicted record profits for the same quarter. HTC need to come up a lot and fight with other Smart phones.