Taiwanese mobile phone supplier HTC has got its financial year off to a rocky start, with first quarter revenues down 23% year-on-year to NT$33.1bn (£648.2m) and a net loss of NT$1.88bn (£36.8m), compared to a net profit of approximately NT$85m this time last year.
However, its guidance for the second quarter was optimistic, with sales expected to double to somewhere in the range of NT$65bn to NT$70bn.
HTC, three years ago the darling of the Android market, has struggled to keep up with the pack in the face of explosive growth of smartphone sales and shipments – particularly against Korean rival Samsung.
With growth rates in mature markets slowing and emerging economies only just starting to pick up, the competition is set to get more intense for a while.
Having pocketed good early reviews of its HTC One (M8) handset, HTC CEO Peter Chou said the firm now had “a much more optimised product portfolio”.
“We have dramatically improved our operational efficiency and supply chain readiness to ensure immediate availability. Looking ahead, we are excited about the many new opportunities from the rapid development of TD-LTE in China and LTE in Taiwan. We believe that we are on course for a strong 2014,” said Chou.
HTC said its EMEA sales remained solid thanks to a successful launch of the HTC One (M8) and ongoing momentum from its predecessor, the HTC One (M7) and other devices.
Image copyright: Flickr, Kārlis Dambrāns
More on HTC
- Nokia wins patent battle against HTC in UK court
- HTC revenues plummet again
- HTC profits tumble in Q1 despite HTC One launch
- BlackBerry hires ex-HTC exec to lead devices