HTC reports fourth consecutive quarterly loss, after 64% drop in revenue

Three months ago, HTC's earnings report made for troubling reading, as the company posted its third consecutive quarterly loss, and admitted that its "flagships fell far short of expectation for the entire cycle of 2015."

Today, it published its latest financial report, and unfortunately for the Taiwanese manufacturer, the news keeps getting worse. HTC reported its fourth quarterly loss in a row; it lost $4.8 billion TWD ($148 million USD) in the first quarter of the year.

But even more troubling is the massive collapse in the company's sales. HTC reported revenue of $14.8 billion TWD (roughly $456.4 million USD) for Q1 2016, compared with $41.5 billion TWD ($1.28 billion USD) during the same quarter in 2015 - a staggering 64% drop year-over-year.

Just like last quarter, HTC is again putting a brave face on things, reminding investors that it has "gained critical acclaim across its entire portfolio" this year. It points to the "strong launch" of its new HTC 10 flagship - which earned itself a very good score in our review - as well as its Vive virtual reality headset, saying that it "anticipate[s] good momentum over the year" for both devices.

Source: HTC

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