HTC Bleeds $62 Million USD in Q1 2014, Looks Ahead to Hopeful One M8 Sales
April 7, 2014 1:39 PM
Marketing was cited as the HTC One's failure
HTC posted a first quarter loss for 2014, but hopes its new flagship smartphone -- the
HTC One M8
-- will have better luck than the original HTC One.
, HTC posted its second loss in three quarters ahead of the release of the HTC One M8. The original flagship HTC One was a highly rated phone, but reportedly couldn't grab sales because of a poor marketing strategy.
HTC reported a net loss of T$1.88 billion ($62.06 million USD) for the January-March quarter of 2014. That's wider than analyst predictions of a loss of T$1.59 billion, and definitely below the profit of T$85 million reported a year earlier.
Revenue also took a tumble, falling 22.6 percent to T$33.12 billion.
HTC had a net income of NT$310 million ($10 million USD) in the last quarter of 2013, but analysts attributed this to the sale of beats -- not significant sales in devices.
HTC One M8
The Q1 2014 loss was reportedly due to slowed HTC One sales ahead of its successor's release. HTC's One had a hard time selling despite receiving great reviews because the marketing strategy for the device was considered "confusing" by many.
HTC hired actor Robert Downey Jr. to star in some HTC One commercials. HTC spent just $75.8 million USD in marketing last year while its major competitors spent much, much more -- Samsung spent $363 million USD on marketing in the U.S. while Apple spent $350.9 million USD.
But HTC is looking ahead and hoping for great sales with the One M8, which was released in late March 2014. It's the successor of the HTC One, and has also received great reviews. Hopefully the marketing aspect will work differently.
Shares of HTC have fallen 38 percent over the past year.
"Folks that want porn can buy an Android phone." -- Steve Jobs
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