Home > Industry > Finance > HTC’s August Revenue Up 67%

Despite showing weak financials over the last few years, HTC has reported revenues of $23.52 million for August, up 66.8% on month, but still down 47.1% on year.

However, investors have been advised to remain cautious about escalating competition in the global smartphone market.

HTC shares opened up 0.97% off the back of its strong August sales report and buying accelerated to push up the stock by 1.52%, to close at US$1.17 on the Taiwan Stock Exchange.

The August sales figure has prompted investors to buy into the stock, boosting turnover to 6.59 million shares from 5.74 million shares.

“The month-on-month spike resulted from efforts to promote smartphones and boost the global visibility of our virtual reality development,” HTC said in a statement.

According to market analysts, the VR devices launched by HTC since the beginning of 2019 – such as the Vive Pro Eye, Vive Focus, Vive Focus Plus and Vive Cosmos – have helped ramp up the company’s sales in 2019, and is expected to do so for the rest of the year.

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