HTC trimmed year-over-year losses by 50% in Q1
The numbers are in and it looks like Q1 of 2017 wasn’t kind to HTC. The company has released is quarterly earnings report showing NT$14.5 billion ($479 million USD) in revenue for the quarter and an operating loss of NT$2.4 billion ($79 million USD).
The revenue figure is only down 1.75% YoY, but HTC managed to cut its net income losses in half from NT$4.8 billion to NT$2.4 billion. Another item to note is that revenue from Q1 of this year is the lowest on HTC’s books in over a decade, but its quarterly losses are the second lowest we’ve seen from HTC since Q2 of 2015. It’s clear that HTC has done some incredible internal restructuring and realignment to streamline its different businesses and cut out any unnecessary overhead expenses. All HTC really needs now is a decent phone that will resonate with consumers.
The launch of the HTC U 11 seems to be timed perfectly. While most will judge the phone in comparison to the Samsung Galaxy S8, the LG G6 and the Huawei P10, the success of the HTC U 11 should be determined by the impact it will have on HTC’s bottom line. HTC doesn’t need a Samsung Galaxy S8 killer. They simply need a product that can pull them out of the ditch that they’ve been stuck in for the past three years.