HTC on Monday revealed it swung to a net loss in the second quarter while revenue almost halved on last year.
According to the Taiwanese smartphone maker’s unaudited figures, revenue came in at NT$33.01 billion (€967.5 million) for the three months to 30 June, compared to NT$65.1 billion a year earlier.
HTC swung to a net loss of NT$8.03 billion after tax, or an earnings per share (EPS) loss of NT$9.70. In the second quarter of 2014, those two figures came in at NT$2.3 billion and NT$2.74 respectively.
HTC’s unaudited Q2 results are in line with the guidance cut it made in early June.
At the time, the company attributed the poor performance to lower-than-expected demand for its flagship smartphone and weak sales in China.
HTC unveiled the latest edition of its flagship smartphone range, the HTC One M9, at this year’s Mobile World Congress.
While the handset packs plenty of firepower in terms of features, aesthetically it is not much of a departure from its predecessor, the M8.
By comparison, Samsung demonstrated its designs have moved forward when it unveiled the curved-touchscreen on its range-topping Galaxy S6 Edge.
In addition to cutting its guidance, HTC also initiated a strategic review of its assets and set itself four business goals for 2015: making the company’s smartphones more competitive, improving efficiency, streamlining business processes, and pursuing opportunities beyond smartphones.
"We have full confidence in achieving our vision," said HTC chairwoman and CEO Cher Wang, at the time.
