HTC’s struggles dragged on in Q4 2018, as the Taiwanese device maker remained in the red and revenue for the period dropped significantly year-on-year.
The company reported a net loss of TWD4.4 billion ($142.8 million), which was actually an improvement from a loss of TWD 9.8 billion in the same period of 2017. Quarterly operating loss of TWD2.8 billion was also improved from TWD9.6 billion in the 2017 quarter.
Revenue, however, slipped to TWD4.1 billion from TWD15.7 billion in Q4 2017.
The slump in revenue for the recent quarter was largely expected, after the company revealed last month its sales for December 2018 hit TWD1.35 billion, a 66.4 per cent decline year-on-year.
In a statement, the company pointed to a strong enterprise push in Q4 2018, with its HTC Vive positioned as providing VR experiences for businesses which it hopes will fuel a turnaround.
It also appears to have high hopes for its HTC Exodus 1 blockchain smartphone, launched in October 2018 and said it is looking for cooperation from global crypto communities and developers to develop the device.
HTC ended the period with a cash sum of TWD41.5 billion.Subscribe to our daily newsletter Back