HTC reduced its losses slightly in the first quarter compared to the previous quarter, while revenues continued to fall. The net loss totaled TWD 2.5 billion, compared to a loss of TWD 4.4 billion in Q4 and a profit of TWD 21.1 billion in Q1 2018 when the company sold much of its smartphone assets to Google.
As reported earlier, revenues were down sharply in Q1, to TWD 2.9 billion compared to TWD 4.1 billion in Q4 and TWD 8.8 billion a year ago. HTC said it improved the gross margin for the fifth consecutive quarter, at 14.7 percent compared to 8 percent in Q4. The operating loss of TWD 2.7 billion was slightly better than TWD 2.8 billion in the fourth quarter.
The company's cash balance reduced to TWD 38.7 billion from TWD 41.5 billion at the end of December.
Since the end of Q1, HTC started shipping its Vive Focus Plus headset aimed at enterprise users. The company said it will ship shortly the Vive Pro Eye, an upgrade of the Pro model with built-in eye tracking.
HTC added that it's continuing good momentum in the 5G market with its 5G Hub, working with the operators 3 UK, Deutsche Telekom, Sunrise and Elisa on products for the home and small office market.
