An HTC One smartphone is displayed in a mobile phone shop in Taipei April 8, 2013. Photo by Pichi Chuang, Reuters
TAIPEI - Taiwanese smartphone maker HTC said Thursday it expects a sharp rise in second-quarter revenue thanks to a new model, following record quarterly low sales in January-March.
First-quarter revenue was Tw$42.8 billion ($1.45 billion) and net profit slumped 98.1 percent year-on-year to a record low of Tw$85 million.
But chief executive officer Peter Chou forecast that second-quarter revenue would surge more than 60 percent compared to the first quarter, to Tw$70 billion.
"This was a pivotal quarter for HTC," he told an investor conference.
"In February our teams set a new standard for smartphones, launching the new HTC One. The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device."
The Android-based model, sporting a 4.7-inch (12 cm) touchscreen and front-facing speakers, was unveiled in London and New York in February .
Chou had hailed it as a "technological breakthrough" as he battles fierce competition from the Apple iPhone and Samsung's newly released Galaxy S4.
However the firm has a tough fight on its hands.
Research firm IDC said HTC held a 4.6 percent share of the global smartphone market in 2012, a sharp decline from 8.8 percent a year earlier. Samsung held a 30.3 percent stake while Apple had 19.1 percent.
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