HTC Posts US$110 Million Q2 Loss
Taiwanese-based HTC has continued its financial dive, posting a Q2 operating loss of NT$3.4 billion (~US$110.9 million), following revenues of NT$6.8 billion (~US$221 million), and a whopping 50.7% drop in operating margin.
Q2 revenue is a notable decline from the same period last year – less than half former levels.
Results follow the transfer of over half HTC’s R&D smartphone team to Google late last year, in a US$1.1 billion deal which burgeoned Q4 results.
2018 earnings have continued to slump past last year’s results, with the company’s financial decent widening since January this year.
The news follows the release of HTC’s U12+ in Australia – a device which has received mixed reviews over its pressure sensitive buttons and comparatively high price.
Despite its downwards decline, HTC finished the half-year with a profit of NT$19 billion.