HTC’s Q2 Financial Report Shows a Loss of $64.23 Million, 9th Quarterly Loss in a Row
A lot of people within the Android community have a strong connection to HTC as they were one of the first OEMs to really make great smartphones. This makes a lot of people have a soft spot for the Taiwanese handset maker and they genuinely want them to succeed. But the last few years has been a downward spiral for the company and there simply doesn’t seem to be an end in sight. HTC recently published their financial report for the second quarter of 2017 and they’re posting financial losses yet again.
Various times throughout the last couple of years there seems to be a swell of hope that they’ll begin digging their way out of the hole they’re in. The HTC 10 was a highly underrated smartphone and people thought it would be enough to pull them out. Then HTC received a lot of attention with the HTC Vive and that sparked some hope yet again, but it still wasn’t enough to stop the cash bleeding. Now with the release of the HTC U11 (another device that is highly regarded by some, and is reportedly selling well) a lot of people have been hoping it was going to be popular enough to bring them back into the green.
We really aren’t to the point where we can assume the U11 won’t be good enough to do this. The second quarter of the year stops at the end of June and the U11 was launched in the US during that month. So while that initial burst of cash would have helped a little and might be accounted for in these figures, we’re going to be looking toward HTC’s Q3 report to see if it helped them or not. However, for the second quarter of 2017, HTC reported losses of NT$1.95 billion (which is about $64.23 million).
While that is still a lot, at least it isn’t as much of a loss that HTC saw in Q1 when it was reported they were down NT$2.03 billion. The company has been able to achieve this thanks to a reduction in operating profits which was NT$4.4 billion. The first quarter of this year those expenses were at NT$4.7 billion and just one year ago they were at NT$6.4 billion. They have shown they’re able to trim the fat, but they’re going to need to do better to fully turn this trend around.