HTC Q1 Losses Climb to $62 Million, but March Revenue Improves

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HTC posted its Q1 2014 financials today, and they are decidedly mixed. The company’s profits were less than investors expected, but one-month revenue rose incrementally after 28 consecutive months of declines.

The company’s first-quarter loss was NT$1.88 billion, which amounts to $62 million. That is worse than the Bloomberg-compiled analyst estimate of NT$1.59 billion loss and HTC’s own Feb. 10 forecast of NT$860 million. Revenue for the quarter fell to NT$33.1, down from $NT42.8 billion last year. 

However, HTC reported that March revenue was up 2.16% year-over-year.

A few investors are wary that the critically well-received HTC One (M8) won’t be able to maintain selling momentum in the face of Samsung’s Galaxy S5, but Chief Financial Officer Chang Chialin said that a focus on mid-range devices this year would help to buoy profitability.

As for our opinion, if the company plans to remain afloat on mid-range devices, 2014 could be quite a long financial year for the Taiwan-based OEM. Although, the Moto G, Motorola’s budget-friendly smartphone, is reportedly its most successful device ever. Maybe HTC can pull something off, too.

Via: HTC [2] | Bloomberg

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