HTC reports first quarterly loss since going public in 2002

Taiwanese handset maker posts net loss of $101 million in the third quarter on reportedly weakened sales of its flagship HTC One smartphone.

The HTC One (right) and its baby brother, the HTC One Mini.
The HTC One (right) and its baby brother, the HTC One Mini. Josh Miller/CNET

HTC reported its first quarterly net loss since going public in 2002 as its flagship HTC One has so far failed to revive the struggling brand in the face of fierce competition from Apple and Samsung.

The Taiwanese handset maker said Thursday it recorded a net loss of NT$2.97 billion ($101 million) in the three-month period ended September 30, greater than a net loss of NT$1.8 billion analysts polled by Thomson Reuters had been expecting. The company reported a net profit of NT$3.9 billion in the year-ago period.

After years of strong sales momentum, the company suffered a recent dropoff in sales. The HTC One was delayed earlier this year due to technical issues, contributing to a 70 percent fall in net profit during its 2012 first quarter .

Already grappling with weakened sales for the HTC One, the handset maker is facing HTC One Mini supply problems due to a casing shortage , the result of difficulties in its design, a source familiar with the matter told Reuters.

 

ARTICLE DISCUSSION

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

Hot on CNET

CNET's giving away a 3D printer

Enter for a chance to win* the Makerbot Replicator 3D Printer and all the supplies you need to get started.