This time last year, HTC was under pressure as it was coming off the back of its lowest profits ever. Unfortunately, the passage of time hasn't altered the company's downward trajectory and today the Taiwanese phone maker is reporting a NT$1.88 billion ($62 million) loss for the first three months of 2014. That's the second time in three quarters that HTC has dipped into the red, having only broken even in Q4 2013.
HTC forewarned investors in its last earnings report to expect a losing start to the new year, but even its downbeat estimates weren't pessimistic enough. The company fell short of the expected NT$35 billion in sales, posting NT$33.12 billion, and disappointed analysts who had been predicting a narrower loss.