HTC reported worse-than-anticipated profits in its latest set of figures as it fell well shy of analyst expectations despite the sale of its stake in Beats Electronics.
The Taiwanese smartphone manufacturer posted a net profit of NT$300 million [£6 million] in the three months to December compared to NT$1 billion [£20 million] in the same period last year.
Reportedly the only way it was able to make a profit during the quarter was due to the inclusion of a one-time profit of NT$2.5 billion [£50 million] on its stake in Dr Dre’s Beats Electronics headphone brand.
Analysts polled by Thomson Reuters had projected a net profit of NT$721.21 million [£14.5 million] for the quarter and the profit follows its first ever loss in the previous quarter of NT$2.97 billion [£60 million].
HTC has looked increasingly beleaguered over the past 12 months as it struggles to find a place in the marketplace where it can remain profitable and prove a legitimate challenger to the likes of Apple and Samsung.
The company has long been criticised for its distinct lack of devices available across different price points that puts it at a significant disadvantage against Samsung’s huge breadth of smartphones.
In terms of what is next for HTC, it is pinning most of its hopes on the HTC One+, which is the successor to its critically acclaimed HTC One flagship smartphone.
Instead of a full upgrade on the HTC One, it’s widely expected the device will make a number of small tweaks including a slightly larger 5in display with a 1,920 x 1,080 resolution as well as a Qualcomm Snapdragon 805 processor and 2GB of RAM.
When it comes to the camera its expected to be either a 6- or 8-megapixel snapper and will have a more powerful 2,900mAh battery as well as the microSD card slot that was sorely lacking from the HTC One.