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HTC manages $21 million Q3 profit, but revenue continues to slide

HTC Earnings Q3 2014

HTC on Friday announced unaudited financial results that showed an 8% decline in revenue in September, but the company still managed to eke a third-quarter profit as cost-cutting measures continue to boost HTC’s bottom line. After a massive 33% on-year revenue decline in July was reversed with solid 10% sales growth in August, September saw HTC swing back to a decline as revenue fell to NT$16.7 billion ($549 million USD) from NT$18.2 billion in the same quarter last year.

HTC’s total third-quarter revenue fell 11% on year to NT$41.9 billion.

On a somewhat brighter note, the Taiwan-based smartphone vendor managed an NT$640 million ($21 million USD) unaudited profit in the third quarter, though continued cost-cutting measures were largely to thank as opposed to sales, which continued to slide in Q3.

HTC is hosting a press conference next week in New York City, at which at least one new device is expected to be unveiled. A recent leak suggests that the company has plans to reveal a high-end phablet with a large 2K resolution display and cutting-edge specs.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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