HTC posts revenue down nearly third from year ago

HTC posts revenue down nearly third from year ago

PanARMENIAN.Net - Taiwanese smartphone manufacturer HTC posted revenue of NT$21 billion, or $729.4 million, in November, down nearly a third from a year ago. It marks the 13th consecutive month of declining revenue, as the company struggles to get out of a slump that's lasted more than a year, CNET reports.

November did improve upon the October month, when revenue was NT$17.2 billion, or $591.8 million.

The results illustrate the continued struggles facing HTC, one of several handset manufacturers battered by the competition that has left Apple and Samsung Electronics as the only truly successful players in the smartphone business. Despite slashing its product line-up and focusing on a few higher quality devices, the company has yet to see a financial turnaround.

The company, however, is hopeful that will come soon. HTC President Jason MacKenzie said last month that he believes the lineup that it currently offers will help drive that turnaround. The products have all gotten support from outside partners, whether its Microsoft or Verizon Wireless.

Over the last few months, HTC has introduced an upgraded version of its flagship One X, the One X+. It has also released the Windows Phone 8X and Windows Phone 8S, which Microsoft considers its flagship devices for the new platform. Most recently, it has released the Droid DNA, which is the flagship smartphone for Verizon this holiday.

Whether the products will translate to better results in December is another question. But with sales trending down in October and November, it's likely that the fourth-quarter results will similarly see a decline in sales, CNET says.

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