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HTC says losses heavier than expected

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HTC says losses heavier than expected

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.

Source:

Reuters

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