HTC reports weak third quarter results
Taiwanese smartphone maker HTC has posted weaker than expected results for the first three months of the year despite recording a fourth successive quarterly profit.
Revenue on an unaudited basis was T$41.52 billion in the first three months of this year, HTC said in a statement.
The company posted an unaudited net profit of T$360m ($11.6m) in the period from January to March. This was a strong improvement compared to a net loss of T$1.88bn in the same period last year.
However, both net profit and revenue fell compared to the previous quarter - HTC had posted Tw$470 million net profit and Tw$47.87 billion revenue in October-December.
The company, once dominant in the smartphone sector, has struggled in recent years while companies such as Samsung, Apple and strong Chinese brands like Lenovo and Huawei have surged ahead.