HTC announced its earnings for the first financial quarter of 2014 today and there’s not much good news from the struggling Taiwanese phone-maker. For the second time in recent memory HTC posted a net loss, losing NT $1.88 billion ($62.06 million) on a revenue of NT $33.12 billion ($1.1 billion). That figure is also below the company’s previously stated outlook for the quarter.
The company posted its first-ever net loss in the third quarter of 2013, but managed to squeeze out a small profit in Q4 last year after selling back its stake in Beats Audio. Now HTC is starting off the new year on a rough note. Reuters notes that HTC’s Q1 losses are even worse than analysts predicted.
HTC has another chance to turn things around with the HTC One (M8), which launched late last month. The new flagship phone helped increase sales in March by 2.2 percent, and the company expects interest in the device to pick up this quarter. Responding to gloomy predictions for the M8, HTC America president Jason Mackenzie tweeted that the smartphone’s full launch doesn’t kick off until April 11, adding that the company is “very satisfied” with early sales.
Hopefully HTC can avoid another quarter in the red, though that may depend on more than just one flagship device. The company is set to rollout a new lineup of mid-range Desire phones to compete on the low-end where competitors like Samsung and LG already offer a wide range of options. We’ll see if that does the trick.