According to DigiTimes, HTC announced its financial report for the third quarter of 2017 today. The report shows that HTC recorded a net loss of NT$3.1 billion (approximately $102.63, or NT$3.80 per share) for the quarter. This marks HTC’s tenth consecutive quarter of financial losses.
HTC’s revenue in the third quarter was NT$15.7 billion, with a gross margin of 10.3%. Revenue for the quarter decreased by 24% compared to the second quarter. HTC reported an operating loss of NT$3.3 billion for the quarter, with an operating margin of -20.9%. The accumulated net loss for the first three quarters of 2017 was NT$6.85 billion, with a net loss per share of NT$8.64. The net loss per share for the first three quarters of 2016 was NT$9.05.
According to TrendForce, due to the absence of new models, HTC’s smartphone shipments in the third quarter fell 46% compared to the second quarter. Industry sources indicate that driven by the recently released U11, HTC’s revenue is expected to rebound in the fourth quarter, but whether it can achieve a break-even point remains to be seen.
In addition, HTC announced that it will invest millions of dollars to launch a series of HTC Vive virtual reality art projects. The aim is to promote global VR art development and help VR application and content developers, artists, and related institutions innovate in art creation and experience through HTC Vive and VR technology.