HTC confirms first ever quarterly loss

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HTC has released its unaudited earnings for the first quater of 2013 and the reports confirm the company is losing money. The company made a net loss of NT$2.97 billion ($101 million) on revenue of NT$47.05 billion ($1.6 billion). Operating loss was NT$3.50 billion ($119 million). HTC earlier predicted revenues of between NT$50 and NT$60 billion for this quarter, down on last years NT$70.2 billion. It would appear that the HTC One failed to hit the heights expected even by the company. Revenue is down 33 percent year-on-year and this is the first ever loss posted by HTC since going public back in 2002.

On the back of that, this news comes just as Samsung predict record profits for the same quarter.

Source – The Verge

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