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HTC Posts Another Quarterly Loss

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Taiwan 's struggling smartphone manufacturer, HTC has reported that it lost NT$1.88 billion (USD62 million) in the first quarter of this year. That was worst that most analysts had been expecting, and the third consecutive quarter of losing money.

Revenues for the company, whose financial statement opened by describing the firm as a "global leader in mobile innovation and design" also fell to NT$33.1 billion (USD1.1 billion) from NT$42.8 billion. For historical reference, the company\'s revenues were NT$67.80 billion in the first quarter of 2012, so they have more than halved over a two year period.

"In order to maximize the success of our critically acclaimed HTC One (M8), we have dramatically improved our operational efficiency and supply chain readiness to ensure immediate availability on the launch day," said Peter Chou, HTC's CEO.

For the quarter ahead, the company expects revenues to be roughly flat in the range of NT$65 billion to NT$70 billion, boosted by sales of the HTC One M8 smartphone.

The company also aims to break even in the first half of this year as second quarter profits offset the losses in the previous three months.

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Tags: htc  Taiwan