Adding to its woes, HTC witnessed yet another terrible quarter (Q4, 2013) results with its net profit falling down to $10 million. According to Reuters, the street expected a net profit of $24.3 million in the quarter, which was $10 million lower than the $34 million profit in the same quarter in 2012. HTC had reported a net loss of $99.9 million in the quarter before this, and its current market cap is around $4 billion.
The company has been struggling to compete against other major brands as well as the local vendors, which have been eating away its share globally. Despite cutting down on expenses and launching new devices like the One Max phablet, the Taiwenese company has failed to bounce back in the market. Recently the company had partnered with lower-end chipset makers like Speadtrum and Broadcom for its relatively cheaper range of smartphones in the markets like India and China.
What makes things even worse is that HTC managed to record even that minuscule net profit largely thanks to it selling its stake in Beats Audio for $265 million.