News by Luke Jones on Thursday July 09, 2015.
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HTC recorded a hefty loss through the last quarter, making a definite end to the company's mini turnaround. With sales of the One M9 struggling and most consumer passing over the flagship, these are dire times for the Taiwanese giant that once stood on the cusp of dominating the market. Just to show how bad things have got, HTC's share price tumbled to a 10 year low.10 years ago the company was a fledgling in the mobile space and its share price reflected that, but these days HTC is established as an elite brand, so the price is a disaster. The price closed last night at $2.21 per share, which matches the price in 2004, although inflation plays a part in making these numbers even more disastrous. HTC is now at real risk of going under and really cannot afford more consecutive quarters as bad as this one has been. The One M9 is footing the bill and HTC needs to pull another flagship out of its sleeve soon, the rumoured Aero smartphone cannot come soon enough.
HTC announced its second quarter financials today and there was not much surprise to see the results were not good. After a number of quarters turning a profit, the company's minor comeback came to a grinding halt as it dipped below the red line. The reason for that is the lukewarm reception the One M9 flagship received from critic and consumer alike. This is just a preliminary look at HTC's state through the second quarter, but still it is obvious the damage has been done. Revenue topped at $1.07 billion and left behind an operating loss of $166.2 million, a net loss of $256 million. Just three months ago the company made $11.6 million off $1.3 billion in overall revenue.
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.