2/10/2014 12:01:03 PM
HTC announces small Q4 profit after Beats sale
HTC has announced a small profit for its Q4 2013 results after the sale of its stake in Beats Electronics.
The Taiwanese manufacturer endured a difficult 12 months after poor sales and distribution problems, although the sale resulted in a NT$0.31 billion (£623,286) profit for its last quarter. The company posted overall revenues of NT$42.9 billion (£8.6 million). It looks to be a difficult start to 2014 for the smartphone maker as it forecasts revenues of around NT$36 billion (£7.2 million) for Q1.
Despite disappointing results, HTC's flagship, The One, was awarded another Best Phone title in Q4, this time by Middle Eastern Tbreak Awards. The manufacturer also signed a patent and technology collaboration agreement with Nokia, settling its patent dispute.
HTC CEO Peter Chou said: ‘We will continue to stay focused on making the best smartphone and building a compelling mid-range portfolio. Meanwhile, we are going to communicate better with consumers.’