HTC manages small Q4 profit despite slumping sales

HTC earnings Q4 2013

HTC’s struggles continued in the fourth quarter last year but on the bright side, the wobbling smartphone maker did mange to post a narrow holiday-quarter profit despite sales that showed a significant decline yet again. Following the release of its unaudited Q4 2013 earnings early last month, the company posted its final results for the December quarter. Profit came in at $10 million, just as HTC had reported earlier, which missed analysts’ expectations of $12 million. Meanwhile revenue for the quarter came in at about $1.41 billion, down sharply from the $1.98 billion in sales HTC managed in the same quarter a year earlier.

According to a report from Reuters, HTC is planning to turn things around by focusing on two main areas. First, the company will apparently increase its focus on affordable entry-level and mid-range smartphones — which, ironically, is exactly what HTC said it would not do when it first began looking to combat slowing sales.

“The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market,” HTC chair Cher Wang told Reuters.

Beyond that, HTC CEO Peter Chou says the company will also work to develop smarter marketing campaigns that “communicate better with consumers.”

Source:
HTC [PDF], Reuters
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