HTC posts first ever quarterly loss on summer sales slide

Brad Reed
BGR News

HTC Q3 2013 Earnings
HTC Q3 2013 Earnings

Things are getting very ugly for HTC. Per Bloomberg, HTC on Friday released a horror-filled third-quarter earnings report showing that the company had posted a quarterly loss for the first time in its history. For the quarter ending in September, HTC reported a net loss of NT$2.97 billion (USD $101 million) on sales of NT$4.7 billion (USD $1.6 billion), a worse result than the consensus forecast of a NT$2.2 billion loss on sales of NT$54 billion. Bloomberg says that HTC’s smartphone business is getting whacked both in the high-end market, where its HTC One model was delayed in many places until after the release of the Galaxy S4, and the low-end market where it has considerably less presence than low-cost Android vendors such as Xiaomi.

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This article was originally published on BGR.com

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