HTC’s Slump Keeps, Well, Slumping in Q4
HTC’s profit missed investor estimates for the fourth time in a row, as the Taiwanese smartphone maker turned in disappointing results in the fourth quarter.
In the last three months, HTC said it earned $10 million on revenue of $1.4 billion, compared to a net income of $34 million in the same period a year ago. Analysts had expected the company to earn just over $24 million.
Part of the results were due to the sale of headphone brand Beats Electronics, which gave the company a one-time, pre-tax profit of $85 million. That allowed HTC to avoid its second quarterly loss in a row; in the previous quarter it lost $101 million.
HTC has brought on new management, has been trying to cut manufacturing costs and also launched a splashy new marketing effort starring Hollywood movie star Robert Downey Jr. for its well-received One Max device.
So far, not all of this has worked.
But its “Here’s to Change” — HTC, get it? — advertising with Downey sure does. Here’s a two-minute video that is perfectly weird: