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HTC continues to lose money; spills $62 million in red ink for Q1 vs. profit the previous year

HTC continues to lose money; spills $62 million in red ink for Q1 vs. profit the previous year
HTC is in a slump, but there does seem to be a way out. For the first quarter of the year, a period that included some HTC One (M8) sales, the Taiwan based manufacturer had a net loss of $62 million. That compares with a $2.5 million profit made by HTC in the prior year. Revenue, at $1.10 billion, fell short of last year's $1.14 billion, and also did not meet analysts' estimate of $1.12 billion to $1.18 billion for the period.

The second quarter is expected to be a much better one for HTC since it will include more contributions from the HTC One (M8) and the HTC Desire 816. The quarter is expected to turn a net profit for HTC in the range of $60 million to $81.5 million. If HTC can pull this off, it would be a very positive sign that the worst is over for the manufacturer.

Despite the red ink for the January through March period, there were some highlights in the period for HTC. The Europe, Mid East and Africa region saw strong sales of the HTC One (M7), HTC One mini and HTC Desire 500. The HTC One (M8) "dominated" in Taiwan, according to HTC. In China, there was momentum for the HTC One (M8) and the HTC Desire 816, while in India there was momentum for the HTC One (M8) and HTC Desire handsets.

Part of the problem for HTC, especially in the U.S., remains lack of a strong marketing plan. Having actor Gary Oldman repeat the phrase "Blah, Blah Blah," is not going to sell handsets, no matter how strong the pre-launch hype. HTC also has tough competition. While Samsung has a very strong challenger with the Samsung Galaxy S5, the LG G3 is expected to raise the bar with a QHD resolution screen. But HTC might fight back. There is speculation about an HTC One (M8) prime which would feature a 5.5 inch QHD screen, a Snapdragon 805 processor and an 18MP Duo camera.

source: HTC via GSMArena

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