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HTC Turns Profit in First Quarter


News by Luke Jones on Wednesday April 29, 2015.

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Grip
Grip

HTC continues to confound critics after the company released its financial results for the first quarter of 2015 (January through March). The Taiwanese giant has posted a string of encouraging quarters in the face of analysts predicting sliding profits amidst increased competition. The United States market has been particularly tough for HTC in recent year, but the company even did well in the U.S. over the last three months.

During the first quarter HTC raked in revenue of $1.36 billion until March 31st, which is a 25% rise on last year and translated to $11.8 million in profit. That profit is not as high in previous quarters, but it was the pre-Christmas period and consumers were also waiting for HTC to drop the One M9 flagship. The company said that it was the best three months it has had in the United States since 2011.

HTC says it expects to see revenue of $1.5 billion for the current three month quarter (Q2) based on sales of the One M9 and the new Grip fitness band. It also plans to increase margins to 23% during the quarter.

We have continued to raise our game over the last few months, and the Q1 results reflect the hard work we have put in to consolidating our processes and operations, while enhancing our core focus of superlative design and technology for the mobile lifestyle. More important, we have made strides in expanding our product offerings into new connected smart devices in areas such as fitness and entertainment. Just as HTC pioneered the smartphone market, it is vital that we drive the connected lifestyle through our pursuit of brilliance and by engaging strategic partners to bring the best and most innovative products to market."-Cher Wang, Chairwoman and CEO, HTC

 
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Luke Jones
Luke Jones is the Managing Editor at MobileBurn.com and is the person you need to speak to about the content on the site. Luke studied creative writing at degree level before carving out a reputation as a freelance tech writer. He settled here at MobileBurn, where he reviews devices and contributes to the news, as well as overseeing the site's content and direction.

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