At the end of Q2, HTC made the unfortunate prediction that it would be operating at a loss during Q3, and while many of us were hoping that their fortunes would pick up these last few months, the smartphone manufacturer has today confirmed that it has indeed recorded its first operating loss since becoming a publicly traded company in 2002. While we’ve seen signs of cost cutting already, such as cutting 20% of its American-based staff, the true extent of the damage to HTC hasn’t come to light till now; losses for Q3 run to a net loss of NT$2.97 billion, or approximately US$101 million.
Many of its financial issues are being linked to the waning sales of its flagship smartphone, the HTC One, as well as supply issues it’s facing trying to produce enough of the HTC One Mini. The issues are stemming from a shortage of casings for the mini smartphone, oddly harking back to similar supply issues experienced with the HTC One’s early months back in Q1. Despite all this, it is still pushing forward with its maiden phablet, the HTC One Max, which is yet to be officially announced, though has been seen on various occasions already.
What do you think about HTC’s results for this quarter? Think they will be able to right the ship in the near future? Let us know your opinion in the comments.
