HTC introduces smartphone to restore earnings
HTC Corp released a new version of its mainstay One smartphone, a device it's counting on to help restore profitability.
The HTC One M8 features a 5-inch (13-centimetre) high- definition screen, Qualcomm Inc's Snapdragon 801 processor and a micro SD slot, the Taoyuan, Taiwan-based company said in a presentation on Tuesday in New York. Its physical design mirrors that of last year's HTC One model, which suffered production delays and a shortage of components. The shares rose to their highest level in four months.
Nine consecutive quarters of sales declines pushed HTC to its first annual loss last year as its marketing budget shrank, and it faced stiffer competition from Apple, Samsung Electronics and Lenovo Group Ltd devices. HTC has worked to solve production problems it faced last year, and a wider lineup of mid-range phones will help it reach more consumers this year, Chief Financial Officer Chang Chialin told investors last month.