January 5, 2014 / 7:41 AM / 4 years ago

HTC's fourth-quarter profit $T 0.3 bln

2 Min Read

TAIPEI, Jan 5 (Reuters) - Taiwanese smartphone vendor HTC Corp said on Sunday it made a net profit of T$0.3 billion ($10 million) in the fourth quarter of 2013, missing expectations despite a one-time asset sale and cost cuts to offset years of falling sales amid intense competition.

Analysts polled by Thomson Reuters I/B/E/S had expected a net profit of T$721.71 million for a quarter during which the firm that once dominated Taiwan's phone making industry was convulsed by a wave of senior executive departures.

The October-December figure compares to a net loss of T$2.97 billion in the previous three months - HTC's first-ever quarterly loss as companies like Samsung Electronics Co Inc and Xiaomi Inc increased their share of the global smartphone market. In the fourth quarter of 2012 it made a net profit of T$1.01 billion.

HTC's fourth-quarter earnings included a one-time profit of T$2.5 billion from the sale of its remaining stake in Beats Electronics LLC, a headphone brand. ($1 = 29.8980 Taiwan dollars) (Reporting by Faith Hung; Editing by Kenneth Maxwell and Ron Popeski)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below