HTC back to profit in Q2 but long road ahead
Print Edition
TAIWAN’S struggling smartphone maker HTC said it has swung back to profit in the April-June quarter thanks to a boost from sales of a new flagship handset, but analysts cautioned against optimism.
The company said net profit came in at NT$2.26 billion (US$75 million) in the second quarter, up 80 percent year on year and much improved from a net loss of NT$1.88 billion in the previous three months, when sales hit a three-month low.
Revenue in the April-June period nearly doubled to NT$65.1 billion from NT$33.1 billion in the first quarter, thanks to the March launch of the HTC One M8.
But income was at the bottom range of a NT$65-70 billion forecast, and analysts said HTC had a long way to go before regaining lost ground to rivals.
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