HTC publishes consolidated results for Q1 2013

Published by at

Following on from the publication of its unaudited Q1 results, HTC has now announced its Q1 2013 consolidated results, with sales of NT$42.8 billion (£950 million) and an operating margin of 0.1% (net profit of NT$85 million). As we previously noted the results are some of the worst in HTC's history with sales down almost 40% and profits down more than 90%.

However, HTC's outlook for Q2 2013 suggests that the company will bounce back in the second quarter of the year, with revenue expected to rise to NT$70 billion and operating margin of 1-3%, largely be driven by sales of the new HTC Once Android device.

HRC financials

HTC's press release also noted that its designs were "lauded by the media and received prestigious awards in Q1":

The new HTC One was awarded the GSMA’s “The Best Mobile Handset, Device, or Tablet.” It was also awarded Tech Radar’s “MWC's Best Phone” and “Best in Show” and Mobile Geeks’ “Best Smartphone.” The Windows Phone 8X by HTC was also honored with the prestigious “red dot award: product design 2013®” award.

HTC's detailed financial figures show that the company continues to maintain a good cash position, with cash and cash equivalents only a little lower than the same period last year (NT$47 billion versus NT$53 billion), something that was reiterated in the company's earnings call.

In the same earnings call HTC's CEO, Peter Chou, noted that HTC would continue to support both Android and Windows Phone in the near future and that, after recent supply issues, the company was "working as hard as possible to meet the demand everywhere".

HTC next Windows Phone devices is expected to be for US carrier Sprint, with further devices likely to be made available globally later in the year.

Source / Credit: HTC