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HTC reports fourth quarter of losses
2016-05-09 12:00:00| Telecompaper Headlines
(Telecompaper) HTC reported an operating loss of TWD 4.8 billion for the first quarter, after a sharp fall in sales for the smartphone maker. The result compares to a small profit of TWD 0.02 billion in the year-earlier period and is the company's fourth consecutive quarter in the red. Revenues for the three months to March more than halved compared to a year ago, to TWD 14.8 billion from TWD 41.5 billion. The net loss totaled TWD 2.6 billion, including a profit of TWD 2.1 billion from selling land buildings in Taiwan. HTC said it was off to a better start in Q2 following strong launches for its new flagship phone, the HTC 10, and its virtual reality device, the HTC Vive. The company said it will continue to work on streamlining processes and optimising its resources.
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Category:Telecommunications