HTC reports sixth straight quarterly loss as smartphone woes continue

HTC reports sixth straight quarterly loss as smartphone woes continue
HTC ended the third quarter on a particularly high note by posting its first annual growth in over two years, but it turns out the short-lived resurgence wasn’t enough to offset the terrible results in August and July.

The Taiwan-based company has just announced its financial results for the July-September quarter and it turns out HTC’s total revenue dropped from NT$2.81 billion three months earlier to just NT$2.45 billion. To make matters worse, its losses widened to NT$2.36 billion, up from NT$2.23 billion during the second quarter.

On the upside, HTC says its gross margin grew by 2.6% to 22.9%, the seventh consecutive quarterly growth since the final quarter of 2017. Additionally, the brand’s losses marked a noticeably year-on-year improvement when compared to the NT$ 2.62 billion figure it posted twelve months earlier.

The brand highlighted its ongoing commitment to VR devices and the dedicated HTC 5G Hub mobile hotspot that’s available to purchase through Sprint. It didn’t go into detail about the performance of its smartphone business, despite launching a few budget devices recently, but is betting heavily on the division’s eventual revival.

New CEO Yves Maitre revealed in September that HTC is planning a comeback in the high-end smartphone segment. An exact timeline hasn’t yet been provided – the company said it’d happen when the time is right – but it’s expected to involve a flagship device that’ll support 5G networks.

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