Tags
Taiwan’s struggling smartphone maker HTC posted a net loss of Tw$1.88bn ($62.3mn) in the first quarter, a figure far worse than the Tw$1.59bn analysts forecast.
Sales in the three months to March fell to a five-year low of Tw$33.1bn.
HTC confirmed its unaudited first quarter loss was Tw$1.88bn, compared with a net profit of Tw$85mn a year earlier.
Looking ahead, the company expected revenues to pick up from the second quarter due to the launch of the latest version of its flagship HTC One (M8) device and the mid-tier Desirer 816 targeting the Chinese mainland market.
“As the company expects robust demand for HTC One (M8) and Desire 816 from the second quarter, the sales would rise...and the company expects to turn profitable in the second quarter,” it said in a statement.
But analysts cautioned against optimism, saying it would be a long way for HTC to regain ground in the market dominated by rivals Samsung and Apple as well as low-cost Chinese rivals like Lenovo and Huawei.
JP Morgan analyst Alvin Kwock said that it would be difficult for HTC to rebound because it cannot match the marketing budget of firms such as Samsung.
The South Korean tech giant spent $11.6bn in marketing expenses alone in 2013, compared with around $877mn spent by HTC on “selling and marketing” last year.
Barclays analyst Dale Gai put HTC’s global smartphone market share at an estimated 2%.
The Taiwanese firm held a 4.6% share of the global smartphone market in 2012, sharply down from 8.8% a year earlier.
Samsung held a 30.3% stake while Apple had 19.1%, according to research firm IDC.
There are no comments.
SPORT Saying goodbye is never easy, especially when you are saying farewell to those that have left a positive impression. That was the case earlier this month when Canada hosted Mexico in a friendly at BC Place stadium in Vancouver.
TECHNOLOGY Some 60mn primary-school-age children have no access to formal education
CULTURE Lekhwiya’s El Arabi scores the equaliser after Tresor is sent off; Tabata, al-Harazi score for QSL champions
ARABIA The Yemeni Minister of Tourism, Dr Mohamed Abdul Majid Qubati, yesterday expressed hope that the 48-hour ceasefire in Yemen declared by the Command of Coalition Forces on Saturday will be maintained in order to lift the siege imposed on Taz City and ease the entry of humanitarian aid to the besieged
ARABIA Some 200 teachers from schools across the country attended Qatar Museum’s (QM) first ever Teachers Council at the Museum of Islamic Art (MIA) yesterday.
ARABIA The Supreme Judiciary Council (SJC) of Qatar and the Indonesian Supreme Court (SCI) have signed a Memorandum of Understanding (MoU) on judicial co-operation, it was announced yesterday.
ECONOMY Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said.
