Hail The 'One'! HTC Return To Profit

Written by Oonagh Reidy     04/07/2014 | 09:51 | Category: INDUSTRY

Taiwanese phone maker return to profitability thanks to hero, One M8.

Hail The 'One'! HTC Return To Profit

Unaudited results for HTC's fiscal second quarter ended June 30 released yesterday, shows quarterly revenue was NT$65.06 billion - down 8%. 

However, net profit after tax was NT$2.26 billion ($76 million), or NT$2.74 per share, the first time in several quarters HTC has recorded a profit, after suffering consecutive losses. 

The lift was attributed to the One M8 handset released earlier this year and a cut in marketing costs. June's monthly sales rose 4% in May but fell slightly compared to last year. 

However, Q2 performance marks a massive improvement on Q1 when sales fell over 36% in both January and February. Q2 operating profit also rose to NT$2.43 billion. 

The figures show HTC still has a long way to go in battling Android king Samsung and Apple, but it seems the battle is definitely not over. Rumor is that HTC will be releasing a smartwatch, tablet, and has already targeted the mid range with new Desire smartphones. 

"HTC returns to profit, boosted by flagship One (M8). It will need 6 month, not one year, innovation cycle to sustain this new momentum," tech analysts Canalys tweeted.  

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