HTC Reports Q1 Loss, But Hopes Its M8 Can Help Out
HTC blames poor marketing for Q1 failings, but is confident new phones will help it recover
HTC has reported a loss of NT$1.88bn (£40 million) for the first quarter of 2014, blaming ineffective and confusing marketing of the HTC One for the company’s performance in the three months leading up to the 31 March, which was worse than expected.
The HTC One has received positive reviews but this has so far failed to translate into financial success for the struggling Taiwanese manufacturer, which was at one point the world’s third largest smartphone marker.
HTC results
Revenues fell to NT$33.12 billion (£656m), slightly below the NT$34 billion (£676m) and NT$36 billion (£716m) that HTC forecast earlier this year.
The company is confident that the recently-announced HTC One (M8) and a refreshed catalogue of mid-range devices will improve its fortunes in the second quarter and allow it to better compete with other Android manufacturers such as Samsung and LG.
The flagship HTC One (M8) was launched last month and boasts many of the features of the original HTC One, along with a number of new imaging and software enhacements, along with a full metal unibody design.
HTC has admitted it experienced a torrid 2013, but it is confident that its new smartphones, along with its planned wearable technology products and new marketing campaigns will ensure that 2014 is a much better year for the company.
Despite mounting losses and sliding revenues there has at least been one piece of good news for HTC so far this year as In February it announced it had settled all outstanding patent litigation with Nokia.
