HTC posts loss of US$62m (€50m) for Q1 2014

7 Apr 2014

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The HTC One

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Chinese mobile manufacturer HTC has posted a loss of US$62m (NT$1.88bn) in the first quarter of this year, just before it launched its new flagship phone the HTC One M8.

The result is an increase on previous estimates for Q1, which predicated the company would make a loss of NT$1.71bn and this is a result which will mean the second quarter loss of the last three quarters.

Despite being considered one of the best smartphones available on the market, the M8’s predecessor, the HTC One, failed to turn reviews into sales.

The addition of the new model, however, is likely to see an increase in Q2 and HTC expects to see sales mirror this.

According to HTC’s release on its financial results, “The company expects to return to profitability in the second quarter, as indicated on the earnings call on February 10, 2014. Further details on first-quarter financial performance and second-quarter outlook will be reported on the next earnings call scheduled in early May, 2014.”

The M8 was launched on 25 March and has received critical acclaim, but will look to do more with its marketing department after it was recorded spending only US$75.8m, in comparison with Samsung’s US$368m.

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Colm Gorey is a journalist with Siliconrepublic.com

editorial@siliconrepublic.com