Taiwan’s HTC posted a net income for Q1 of TWD360 million ($11.5 million), a strong turnaround from a loss of TWD1.88 billion a year ago and hitting the high end of its forecast.
The company’s revenue increased 25 per cent to TWD41.52 billion compared to a year ago, but was down 13 per cent from a strong Q4.
Analysts have said the its flagship One M9 smartphone hasn’t yet had an impact on its results, with some noting that sales have been weaker than expected due to the lack of a “wow” factor.
A survey of analyst forecasts puts second quarter profit expectations at a healthier TWD1.97 billion, with a revenue of TWD66.10 billion, according to a report by Androidauthority.com.
The firm, which has been showing some signs of recovery, is looking to sustain the growth of its flagship product, something it hasn’t been able to do in the recent past. It faces tough competition from Samsung’s new Galaxy S6 and S6 Edge, which have been gaining traction since their launch last month.
HTC was expected to introduce the One M9 and a sibling device into China with a launch in Beijing today, according to the Taipei Times.
The company has seen a number of recent high-profile departures. At the end of March it fired its US-based head of design Jonah Becker, who oversaw the design of the flagship One M9. Becker was only at the head of the department for about a year.
His departure comes only weeks after Peter Chou was displaced as CEO, shifting to a more product-oriented role. He was replaced by Cher Wang, chairwoman and co-founder of the company.