HTC finally turns a profit in fiscal Q2 2014
For the first time in about a year HTC has finally been able to announce that they’ve turned a profit in a quarter. It’s a result they expected after shifting their focus to mid-range smartphones and releasing the HTC One M8 back in April.
The full numbers are as follows:
- Revenue: $2.15 billion before taxes
- Profit: $75 million before taxes
That’s nothing that’s going to make a boardroom jump for joy, but we’re sure they’ll be happy to get good news and a quarter in the black after a long streak of doom and gloom (they lost $64 million last quarter).
It will take a more pointed approach for HTC going forward to make sure they don’t fizzle out before year’s end. Namely, the company’s efforts to bring more mid-range and entry-level options back to key markets in Europe and North America will have to step up in a big way.
They’ve already made other changes necessary to sustain growth, such as deciding not to waste another $1 billion on a failed marketing campaign and selling off their portion of the Beats business, but more has to be done and HTC knows it. For now, they’re probably flicking a great deal of sweat off their foreheads with high hopes that their new strategy will help them regain solid footing in the months and years to come.