4/7/2014 4:27:49 PM
HTC loses £37m in Q1 2014
HTC has posted disappointing unaudited Q1 results, revealing a loss of $62m (£37m).
During its Q4 results in 2013, the Taiwanese manufacturer made revenues of $1.06bn (£638m), although it predicted revenues of $1.12-$1.18bn (£674m-£710m). The smartphone maker also revealed a year-on-year decrease after making revenues of $1.4bn (£842m) and profits of $2.5m (£1.5m) in the same period last year.
However, March saw the first sales increase since October 2011 - HTC's new flagship device, the One (M8), was revealed and released on 25 March.
In February HTC president of EMEA Phil Blair and VP of UK and Nordics Peter Frølund told Mobile that their firm would hunt for increased sales and ‘double digit market share’ with its largest ever marketing budget, closer partnerships with operators and retailers and an expanded portfolio which includes the highly rate M8 and its mid-range Desire family.