26 April 2018
Smartphone maker HTC which has been going through a slump has reported record losses for the first quarter of 2018. The company’s revenues have hit a 16 year low.
HTC reported consolidated revenues of NT$2.771 billion (US$94.77 million) for the first quarter ending in March 2018, which were 46.7% down from a year ago.
HTC saw its revenues for the first quarter of 2018 decline 44.1% on quarter and 39.5% on year to NT$8.79 billion. The company posted the lowest quarterly revenues in 16 years.
The first-quarter revenues were just 6.5% of the company's historical high quarterly revenues of NT$135.8 billion which were recorded in the third quarter of 2011. The company posted record-low revenues in the absence of the launch of new flagship smartphone models.
The company’s new VR headsets have not generated significant revenues to impact the earnings of the company.
HTC says that it expects the revenues to rebound to over NT$10 billion in the second quarter of 2018. The company is expected to launch its new flagship model the HTC U12+ in the quarter.
The U12+ will have a 6-inch QHD+ display and will be powered by a Qualcomm Snapdragon 845 processor. The device is rumoured to have dual rear 12 MP + 16 MP cameras, with 6GB of RAM and up to 256GB of ROM. The phone will come with HTC’s Face Unlock technology. The HTC U12+ is expected to be launched in May 2018.