Taiwanese smartphone maker HTC reported a wider than expected loss during the first-quarter of 2014 after its flagship smartphones attracted weak sales, despite receiving rave reviews last year.
The firm posted a net loss of TWD1.88bn ($62.1m) for the quarter ending 31 March 2014, which is greater than the expected loss of TWD1.59bn.
HTC’s revenue declined by 22.6% to TWD33.12bn ($109.5m) compared to the same period as last year.
The smartphone maker also reported an operating loss TWD2.05bn ($67.7m) for the period.
The firm also reported a 44.8% drop in revenue to NT$33.1bn from the NT$60bn it recorded during the fourth quarter last year.
During March 2014, HTC recorded a 2.16% increase in revenue and it expects to gain profits during the second quarter following the launch of its upgraded flagship device, the HTC One M8.
The company’s share value dropped 38% during the last year.
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