HTC expects losses in the next quarter to be its worst yet, as it continues to struggle in the face of increased competition in the smartphone space.
The beleaguered gadget-maker said its sales outlook for the quarter was around £683 million, far lower than analysts predicted. It said profits per share would also be dangerously low, with operating margin running at -3.7%.
Speaking with Reuters, HTC mover and shaker Cher Wang said: “The problem with us last year was we only concentrated on our flagship. We missed a huge chunk of the mid-tier market.”
She also admitted that an expensive advertising campaign involving Robert Downey Jr had failed to boost sales.
In a separate interview, CFO Chang Chialin also alluded to neglecting the mid-range market when he admitted that HTC took its "eyes somewhat off the ball" over the last 12 months.
Both execs confirmed new mid–range phones, plus a new flagship device, codenamed M8, would be revealed soon.
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