HTC reported a return to net profit in the first quarter, of TWD 21.1 billion versus a loss of TWD 2.1 billion in the year-earlier period. The result was helped by a gain on the sale of assets to Google, completed at the end of January.
As reported earlier, revenues were still down sharply, to TWD 8.8 billion from TWD 14.5 billion a year ago. The operating loss totaled TWD 5.2 billion, more than double the year-earlier figure of TWD 2.4 billion but a significant improvement from TWD 9.6 billion in Q4 2017. The gross margin was still negative, at minus 3.1 percent.
Despite selling much of its smartphone assets to Google, HTC is expected to announce a new smartphone on 23 May. The company said earlier this month on Twitter that the new phone will be "more than the sum of its specs". In addition, it continues to expand its VR business, with the recent launch of the Vive Pro targeting the enterprise market.
