HTC reduced its losses and cited continued improvement in gross margins in the third quarter, as the company looks to reinvent itself in the face of falling smartphone sales. Revenues were down 74.5 percent year-on-year to TWD 4.0 billion, hurt also by the sale of assets to Google. The net loss narrowed to TWD 2.6 billion from TWD 3.1 billion a year ago.
HTC posted an operating loss of TWD 2.8 billion for the period, less than TWD 3.4 billion in Q2 and TWD 3.3 billion in the year earlier period. The gross margin reached 4.7 percent, the third consecutive quarter of improvement, but was still down sharply from 10.3 percent a year ago.
HTC said it made progress on reducing operational costs, while continuing to invest in new technology and its future ecosystem. Most recently the company announced its first blockchain smartphone and started sales of its wireless VR headset.
