Lagging HTC One M9 sales put HTC in the red for Q2

Lagging HTC One M9 sales put HTC in the red for Q2
With lagging sales of the HTC One M9 affecting the manufacturer's finances and its stock, the financial turnaround at HTC appears to have come to an abrupt halt. Yesterday, the company announced that it expects to report an operating loss between $257 million and $291 million USD for the second quarter. This would end a streak of four consecutive profitable quarters. Last week, HTC's shares hit an all-time low on the Taiwan Stock Exchange.

Instead of reporting revenue in a range of $1.48 billion to $1.56 billion USD that it earlier forecast for the current quarter, HTC is now looking to announce that sales were between $1.06 billion and $1.66 billion USD. HTC will write off $93 million for idled assets amid reports that the company has cut HTC One M9 production by 30% due to lack of interest.

The company listed some goals for the rest of the year. Chairwoman and CEO Cher Wang wants HTC to work on strengthening its smartphone business to be more competitive. She added that the company is also looking to reduce operating expenses and wants to be more efficient. Additionally, the company is looking to enter new businesses besides smartphones.

Last week, HTC said that it is working on a new flagship model with a completely new design. This new "Hero" model will be available this October.

source: HTC via AndroidAuthority

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