HTC posts bigger than expected Q1 loss on poor flagship phone sales

Summary: The Taiwanese phone maker reported worse results than analysts expected after losing ground to competitors and rivals.


HTC One (M8), the critically acclaimed smartphone, announced earlier this month (Image: CNET/CBS Interactive)


HTC has reported a bigger-than-expected loss for its fiscal first quarter as it continues to struggle against its major rivals in the smartphone space.


The company reported a loss of about $62 million, compared to a $85 million profit in the same quarter a year ago, despite its flagship smartphone line being critically acclaimed by reviewers.


Analysts were expecting a loss of $52 million.


HTC said it generated $1.09 billion in revenue for the January-March quarter, a decline of 22 percent in the year-ago quarter.


Earlier this month, the company launched the latest iteration of its flagship phone, the revamped HTC One (M8), which it hopes will resonate with its customer base away from Apple and Samsung.


ZDNet's sister-site CNET gave the smartphone a 4 out of 5 rating - one of the highest ever given for a device - describing it as a 'truly great phone all on its own - one worthy of anyone's investment.'


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