HTC returns to loss after poor 2015 Q2
Taiwanese phone maker HTC on Monday announced that the company’s balance sheet is at the red again, following a large stock of unsold products dusting away in the warehouses.
In the Quarter ended June 30, HTC acquired a net loss of 8.03 billion New Taiwan dollars (US$261 million). The deficit covers the entire profit HTC has managed to raise in the past 1 year in a mission to rebuild the company’s financial strength.
HTC Chairwoman Cher Wang
What’s even sadder is that they made only NT$33.01 billion in revenue during the 2015 Q2, and that’s nearly half of the NT$65.06 billion the company generated during the same period last year.
With September approaching fast, CEO and Chairwoman Cher Wang says the company has a “hero” product in tow which will eventually help turn around the phone maker’s dwindling fortunes.