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HTC refuses to predict financial results for next quarter

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HTC refuses to predict financial results for next quarter

HTC will not issue a forecast of its financial performance ahead of the official announcement of its results, adding to concerns that the struggling mobile-maker is edging closer to oblivion.

The Taiwanese giant revealed its intention to stop forecasting figures after delivering its latest set of results, which saw the company lose around £90 million in the three months from July to September.

It told investors on a conference call that it did not want the ‘side effects’ of publishing profit forecasts to impact on its future financial position.

HTC’s share price slipped beneath its own valuation in the summer, leading investors to ditch their stock in the ailing company.

While HTC might suggest this move will make it more secure, it comes at a time when the manufacturer is struggling to land a punch on its rivals.

Its new One A9 smartphone has been derided as an iPhone–clone in some quarters, leading execs to defend its design vigorously.

However, its ever–dwindling profits suggest HTC will be doing well to survive 2016 intact, let alone be able to achieve its stand aim of reinvigorating its mid–range business and taking on the likes of Huawei, Xiaomi and Samsung.

Source:

HTC

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