HTC Posts First Ever Quarterly Loss
HTC loses £62m in three months, while its flagship HTC One wins ‘Phone of the Year’ award
The continuing critical acclaim received by HTC for its current flagship HTC One smartphone is not translating into financial success as the struggling Taiwanese manufacturer posted its first ever quarterly loss in the three months leading up to September 2013.
HTC recorded losses of NT$2.97 (£62m) during the period, the first time it has lost money since it became a public company in 2002, and a new low for the company which has seen its share of the smartphone market slide dramatically in the last two years.
HTC loss
The company was once one of the leading Android manufacturers, but fierce competition from Samsung and Apple has seen its market share dwindle and attempts to revive its fortunes with the launch of mid-range handsets have so far failed.
The HTC One was released earlier this year and was well-received by critics, including TechWeekEurope, and only last night the handset won ‘Phone of the Year’ at the T3 awards.
HTC’s plight has seen a number of top executives depart the company and its latest financial results will increase speculation of a takeover or merger of the business, following similar scenarios with Nokia and BlackBerry.
Nokia is set to be acquired by Microsoft after the two firms agreed a takeover deal, while BlackBerry has a preliminary agreement with its largest shareholder Farifax Holdings, although it is still willing to entertain other offers. Chinese PC manufacturer Lenovo had been linked with BlackBerry, but could now turn its attentions to HTC if it wants to supercharge its smartphone business.
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