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Wednesday, July 31, 2013

HTC results show profit down from last year

HTC has reported its results for the second quarter of 2013. Figures were in line with the unaudited figures published earlier this month, with revenue of NT$70.7 billion (£1.54 billion) and net profit of NT$1.25 billion (£27.3 million). That’s an improvement from the previous quarter but shows revenue down 22% year-on-year and profit down by 83%.

The current quarter is expected to generate less revenue, according to the company, and may result in an operating loss.

Peter Chou, HTC’s CEO, said “My leadership team continues to focus on execution. We are seeing expected results as we fill the channels and meet demand for the new HTC One. As we broaden our focus to include a new member of the HTC One family, the recently announced One mini, we are looking forward to delivering great products and results in 2H [second half of the year].”

A number of ‘innovative and competitive mid-tier products’ are promised by HTC in the near future.

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Author: The Fonecast
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