Taiwanese manufacturer HTC has lost $148 million between January 1 and March 31 2016, says its Q1 revenue earnings report. That is a whopping 64% revenue drop. Its profit loss is registered at 78% compared to the same quarter last year.
This is the fourth consecutive quarter decline for HTC. “We are actually quite hopeful that the HTC 10 will bring back the momentum. From the internal management perspective, we are hoping the third quarter in the smartphone business we will be able to achieve a breakeven,” said HTC’s chief financial officer Chialin Chang.
The sales of HTC’s new flagships HTC 10 or its Vive VR system are not included in this quarter revenue sales. These are making vibes in the market, hinting the phone maker to create huge differences in the upcoming quarter. The company is also one of the early players to venture into virtual reality.
“We’re going to put in resources to make sure we have long-term success in this (virtual reality) sector,” commented CFO Chang.