HTC posted its first quarterly loss ever as sales of the One smartphone failed to reverse the company's fortunes.
The company's preliminary third-quarter net loss was $101 million, about a third more than analysts were expecting. The report, for the quarter ended Sept. 30, comes after eight straight quarters of revenue drops for the company.
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To attempt to stem its decline, HTC pinned its hopes on the One, an Android-based smartphone that included perks like a retooled camera, front-facing speakers and the ability to act as a TV remote control. Despite positive reviews, the One appears to have been overshadowed by Samsung's Galaxy S4, which was released around the same time. (Underscoring the point, Samsung announced guidance for an operating profit of $9.2 billion to $9.6 billion; Samsung didn't give a figure for net profits.)
The One's apparent failure came despite a glitzy ad campaign that featured expensive Iron Man star Robert Downey, among others. In the ads, Downey appeared as a comically unflappable consultant wearing a pinstriped suit. The ads presented him — and the One — as something of a rebel with a different approach.
For HTC watchers, one remaining question is whether CEO Peter Chou will follow up on a reported vow to quit if the One was not successful. HTC reps could not be reached for comment.
Image: Getty/Justin Sullivan