HTC ends Q3 in the green despite drop in sales

HTC has just posted its latest financial release for its 3rd Quarter and there has been a slight drop in sales. Despite the bad news, the Taiwanese phone manufacturing giant has posted a net profit as the cut in costs have offsetted the drop in sales.

The company's quarterly revenue has been noted as $1,38 billion (RM 4.5 billion) of which profits of $21,1 million (RM 68.75 billion) were recorded. In comparison, the previous quarter has been kinder to HTC by comparison with a revenue of $2,15 billion (RM 7.01 billion) and profit of $75,5 million (RM 246.02 billion).

HTC saw the largest drop in sales in July by a sizable 33% compared to the same period last year. However, in August the company saw a 10% sales jump compared to the same month of 2013. Analysts have blamed the launch of the iPhone 6 and iPhone 6 Plus for HTC's 7.9% drop in sales in the month of September.

The company hasn't specified yet how many units it managed to ship for the period. HTC has launched a number of smartphones in Q3, including the high-end Butterfly 2 in Asia and the Verizon Windows Phone-driven One M8. The Desire 610 and Desire 510 meanwhile have broadened the company's scope in the mid-range sector.

The company is hopeful of a brighter Q4 with products like the HTC One (M8) Eye and Nexus 9 tablet (Volantis) with the Nvidia Tegra K1 chip.

Source | Via