HTC posts first ever quarterly loss on summer sales slide

HTC Q3 2013 Earnings

Things are getting very ugly for HTC. Per Bloomberg, HTC on Friday released a horror-filled third-quarter earnings report showing that the company had posted a quarterly loss for the first time in its history. For the quarter ending in September, HTC reported a net loss of NT$2.97 billion (USD $101 million) on sales of NT$4.7 billion (USD $1.6 billion), a worse result than the consensus forecast of a NT$2.2 billion loss on sales of NT$54 billion. Bloomberg says that HTC’s smartphone business is getting whacked both in the high-end market, where its HTC One model was delayed in many places until after the release of the Galaxy S4, and the low-end market where it has considerably less presence than low-cost Android vendors such as Xiaomi.

Source:
Bloomberg
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