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HTC announces sharp sales decline as of Q1 2016

HTC announces sharp sales decline as of Q1 2016
HTC announces sharp sales decline as of Q1 2016
After a brief period in the green early last year, the Taiwanese manufacturer is now back to being knee deep in red with a quarterly loss of 2.616 billion NT.
Business Charts Smartphone

Perhaps unsurprisingly, the latest earnings call from HTC shows the company in financial trouble. The Taiwanese manufacturer is off to a bad first quarter with sales dropping a whopping 64.3 percent YoY from 41.524 billion Taiwanese Dollars (NT) to just 14.821 billion or 400 million Euros.

After a small profit of 360.06 million NT in Q1 2015, the manufacturer is back to an even larger loss at 2.616 billion NT. Additionally, the operating loss for the first quarter of this year amounted to 4.803 billion NT, which is considerably higher than the same period last year.

HTC doubles down on the HTC 10 smartphone and Vive headset

HTC CFO and President of Global Sales Chialin Chang hopes that the new HTC 10 and VR headset can reinvigorate the company for 2016. Sales of both are expected to remain steady and the manufacturer will be launching additional mainstream smartphones as well including the existing One X9 to other regions and more in the Desire family.

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Ronald Tiefenthäler/ Allen Ngo, 2016-05-14 (Update: 2016-05-14)