HTC lowers Q2 loss following U11 launch - Mobile World Live

HTC lowers Q2 loss following U11 launch

14 AUG 2017

HTC narrowed its net loss in Q2 2017 following a “robust quarter” when it reported a reduction in costs and a recovery in sales due to the launch of its new flagship smartphone, the HTC U11.

The Taiwanese electronics maker reported a net loss for the period of TWD1.9 billion ($72 million), down from a loss of TWD3 billion in the same period of 2016. While Q2 sales of TWD16.1 billion were down 14.5 per cent from TWD18.9 billion in the 2016 period, HTC recently announced it experienced strong growth in sales in June 2017, which it credited to the launch of the U11.

Sales during June increased 8.38 per cent year-on-year to TWD6.89 billion.

The ailing smartphone maker is pinning a lot of hope on the device, which launched in May.

In its Q2 earnings statement, the company said it “remained firmly focussed on innovation and execution” during the period.

Along with the U11, HTC also talked up its Vive VR efforts, which “gained considerable endorsement over the quarter”.

Both Apple and Google have recently aligned themselves with Vive, as part of their own VR efforts.

Other headline numbers for the quarter saw HTC report a 6.5 per cent saving in operating expense: “due to the continued streamlining of processes and realignment of resources across the company”.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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