HTC ends Q3 on a profit despite declining sales

HTC just posted its financial results for the Q3 of the year and the company is reporting a slight decline in sales. Despite the bad news, however, the phonemaker remains profitable as cuts in costs have offset the slowing in sales.

The company's quarterly revenue is $1,38 billion (NTD 41.86 billion) of which profits were $21,1 million (NTD 0.64 billion). In comparison, the previous quarter was kinder to HTC with a revenue of $2,15 billion (NTD 65.1 billion) and profit of $75,5 million (NTD 2.3 billion).

HTC saw the largest drop in sales in July by some 33% compared to the same period last year. However, in August the company saw 10% sales jump compared to the same month of 2013. Analysts blame the launch of the iPhone 6 and iPhone 6 Plus for HTC's 7.9% fall in sales in September.

The company hasn't specified yet how many units it managed to ship for the period. HTC launched a number of smartphones in Q3, including the high-end Butterfly 2 in Asia and the Verizon Windows Phone-driven One M8. The Desire 610 and Desire 510 broadened the company's scope in the mid-range sector.

The company is hopefully looking forward to a brighter Q4 with products like the HTC One (M8) Eye and Nexus 9 tablet (Volantis) with Nvidia Tegra K1 chip.

Source | Via