Beats sale helps HTC turn to profit in Q4
HTC posted its Q4 report and the numbers are worse than expected with the companyís struggles in the market continuing. The Taiwanese recorded a second successive quarter of operating loss, bleeding $52 million through its core business.
However, the sale of its stake in Beats, helped bring the bottom number in the black. Net profit stood at $10 million, which is better than the $99.9 million lost in the previous quarter, but short of analyst estimates of $24.3 million in profit. The number is also significantly lower than it was in Q4 of 2012 - $34 million.
Even more alarmingly, revenues continue to slide down, suggesting that HTC continues to lose market share. The company manage to bring in only $1.43 billion, compared to $1.6 billion in the previous quarter.
A drop in sale during the holiday quarter, when demand for mobile phones is a clear indication that HTCís 2013 lineup hasnít lived up to the market expectations. The company will have to work hard to turn things around in 2014, but we really hope it succeeds and gets back in the game.