Join gaming leaders online at GamesBeat Summit Next this upcoming November 9-10. Learn more about what comes next.
HTC’s first quarter saw a massive decline in revenue and profit — but the company expects a rosier second quarter.
The Taiwanese phone maker reported first quarter revenues of $1.45 billion with just $2.88 million in profit (which it previewed last month), a 98 percent fall in profit from last year. The numbers are also a huge decline from the already low $34.4 million in profit from HTC’s previous quarter.
The bright side: The company projects that second quarter revenues will jump to $2.4 billion (and hopefully profits will follow).
“We’re focusing a lot in terms of marketing,” said Peter Chou, HTC’s chief executive, during the company’s earnings call today, according to the Wall Street Journal.
HTC used to be the top Android smartphone maker in the U.S., but Samsung’s popular Galaxy S series of phones, together with the iPhone, quickly eroded HTC’s market share. Now, HTC doesn’t even rank among the top 5 smartphone vendors (when it comes to phone shipments), according to IDC.
The company’s troubles are particularly crushing since it just debuted the best Android phone I’ve ever laid hands on: the HTC One. My full review of that phone is coming soon.
Photo: Devindra Hardawar/VentureBeat
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more