Nov 05 AT 9:49 AM Alex Wagner 14 Comments

HTC to get back to profitability by cutting costs, selling more affordable phones

HTC DROID DNA

HTC confirmed today that it took a net loss of NT$3 billion ($102.1 million) during the third quarter of 2013, with revenue for the quarter finished at NT$47 billion ($1.6 billion USD). Company executives say that they’ve got a plan to turn things around, though, including a focus on moving more low-cost devices.

During a briefing for HTC’s Q3 2013 results, CFO Chialin Chang said that his firm is examining a broader spectrum of products in this quarter. “We aim for higher volume into 2014 that will give better profitability,” Chang said, teasing that HTC will attempt to sell a higher number of affordable devices in an effort to return to profitability. HTC execs also said that they plan to cut costs and keep operating expenses low in Q4 2013.

HTC has been having a bit of a bumpy ride as of late due to the aforementioned net loss as well as other factors like supply issues with its One hardware and multiple employees exiting the company. The Taiwanese device maker’s got no shortage of strategies to turn things around, though, including the aforementioned focus on low-cost devices, the recent sale of its stake in Beats and HTC CEO Peter Chou’s recent promise to focus more on innovation and his firm’s product portfolio. Now we just have to wait and see if these efforts actually work.

Via: HTC

Source: Reuters

Editorial Director of News and Content at PhoneDog Media. I love phones, just about every other kind of tech, coffee and cooking.

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