Once a rising star in the smartphone market, HTC's growth new seems cloudy as the company suffered a 35 percent year-over-year drop in first-quarter sales. The Taiwanese smartphone hopes to turn the side with its new high-end One line of Android phones and a major global ad campaign, but will it be enough to pull customers away from Apple, Samsung and others?
The Taiwanese cellphone maker said that first-quarter revenues were NT$67.8 billion (U.S. $2.3 billion), a nearly 35 percent drop from a year ago. HTC had predicted it would be a rough quarter when it last reported earnings in February, and the revenue figure was in the range of what the company had said to expect.
The company had been seeing its sales doubling from year-ago levels until hitting a wall in the second half of last year.