HTC Corp (宏達電) yesterday blamed its expanding quarterly losses, which grew to NT$2.6 billion (US$84.18 million) last quarter, on the lack of traction for its new blockchain phone and virtual reality (VR) headsets.
It lost NT$3.1 billion in the third quarter of last year, while it posted losses of NT$2.1 billion for the second quarter of this year.
The smartphone maker has been locked in a spiral of quarterly losses for about three years, except for the first quarter of this year, when it booked net profit of NT$21.1 billion after selling its handset manufacturing team to Alphabet Inc’s Google for US$1.1 billion.
HTC is still struggling to return to the black, although its operating losses narrowed to NT$2.8 billion last quarter.
It posted operating losses of NT$3.4 billion for the second quarter and NT$3.3 billion a year earlier, company data showed.
Its operating margin dipped to minus-68.9 percent last quarter from minus-50.7 percent in the second quarter, compared with minus-20.9 percent in the third quarter of last year.
Its gross margin improved for a second straight quarter to 4.7 percent from 2.7 percent in the second quarter, but was still down from 10 percent in the same period last year.
Revenue plunged to NT$4 billion from NT$6.8 billion in the previous quarter and NT$15.7 billion a year earlier.
HTC said it would continue to invest in research and development as well as on expanding its VR ecosystem.
It launched the mid-range HTC U12 life last month and is to start shipping its first blockchain phone Exodus 1 next month.
HTC is accepting pre-orders for the Exodus 1 in cryptocurrencies only, at the price of 0.15 bitcoins, or 4.78 ethers.
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