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July 7, 2015

HTC nose-dive deepens with weak Q2 results

Weak sales in China and flagging demand to blame for troubled times at mobile handset maker.

By Alexander Sword

HTC‘s quarterly revenue fell in Q2 2015, according to its unaudited financial results.

The Taiwanese smartphone manufacturer saw its quarterly revenue at NT$33.01 billion, roughly £689 million.

HTC’s overall operating loss in the quarter was NT$5.14 billion. Net loss before tax was NT$7.92 billion, and net loss after tax was NT$8.03 billion.

These results compare to a strong performance in Q1 2015, with quarterly revenue of NT$41.5 billion, up 25 percent year-on-year. The year has seen HTC launching several devices including its flagship HTC One M9, HTC One M9+ and the wearable HTC Grip fitness tracker.

On the day, HTC’s share price remained fairly steady due to pessimistic forecasts released back in early June. However, it has been steadily dropping in recent months, falling 46.47 percent since April 1.

The guidance claimed lower-than-expected demand for its flagship smartphone and weak sales in China were the causes of the poor results.

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These are the first results released under the tenure of Cher Wang, Chairwoman and co-founder of HTC, who was appointed CEO at the end of the last quarter.

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