HTC posts record losses as of Q4 2015
HTC is now deeper in the red according to its latest financial results ending December 31, 2015. The company amounted to a total revenue of 121.7 billion Taiwanese Dollars (3.29 million Euro) for all of 2015 compared to 187.9 billion Taiwanese Dollars (TWD) in 2014 to represent a drop of more than 35 percent.
Following a small profit of 1.48 billion TWD in 2014, the manufacturer is now down 15.53 billion TWD. Net sales as of Q4 2015 are also down by almost 50 percent to 25.7 billion TWD leading to a net loss of 3.4 billion TWD for the same quarter.
HTC CEO Cher Wang continues to be optimistic despite the company's financial difficulties. Wang is reminding the public that both the Desire series and the One A9 smartphone have been well received. The company is also looking to be an innovator and leader in the field of virtual reality and connected devices. The HTC Vive will work directly with Steam and is widely expected to launch sometime this year to compete with Oculus, Sony, and others during the Holidays.
Nonetheless, a short term turnaround for HTC remains unlikely. Its unaudited Q1 2016 revenue is at 6.48 billion TWD compared to 12.27 billion TWD a year earlier, representing a decline of approximately 47 percent.
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