HTC's November revenue drops 27% year-over-year

HTC's November revenue drops 27% year-over-year
Continuing to have problems picking up sales, Taiwan based handset manufacturer HTC reported revenues of NT$15.47 billion ($522 million USD) for November. While on a sequential basis that is a 3.2% gain, it is a 27.1% decline from last year's numbers. For the first 11 months of 2013, HTC has brought in revenues of NT$190.97 billion ($6.5 billion USD).

HTC expects to ship 5.2 million smartphones in the fourth quarter, a drop of 16.2% sequentially. The company says that its declining market share in the U.S. and Europe is to blame, along with the lack of any new products outside of the HTC One max. Recently, HTC reassigned the job responsibilities of CEO Peter Chou, making marketing a job description for chairwoman and co-founder Cher Wang. Some have blamed poorly executed marketing for HTC's woes and a recent $12 million ad campaign starring movie star Robert Downey Jr. apparently was a huge waste of cash.

What might help HTC is the sequel to its HTC One. Codenamed M8, the device is expected to feature high end specs including a 5 inch 1080 x 1920 resolution display and a quad-core Qualcomm Snapdragon 800 processor.

source: DigiTimes

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