HTC banks on strong One sales to stage a comeback

Taiwanese smartphone maker HTC said Thursday it expects a sharp rise in second-quarter revenue thanks to a new model, following record quarterly low sales in January-March.

First-quarter revenue was Tw$42.8 billion ($1.45 billion) and net profit slumped 98.1 percent year-on-year to a record low of Tw$85 million.

But chief executive officer Peter Chou forecast that second-quarter revenue would surge more than 60 percent compared to the first quarter, to Tw$70 billion.

"This was a pivotal quarter for HTC," he told an investor conference.

"In February our teams set a new standard for smartphones, launching the new HTC One (Review I Pictures). The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device."

The Android-based model, sporting a 4.7-inch (12 cm) touchscreen and front-facing speakers, was unveiled in London and New York in February .

Chou had hailed it as a "technological breakthrough" as he battles fierce competition from the Apple iPhone and Samsung's newly released Galaxy S4.

However the firm has a tough fight on its hands.

Research firm IDC said HTC held a 4.6 percent share of the global smartphone market in 2012, a sharp decline from 8.8 percent a year earlier. Samsung held a 30.3 percent stake while Apple had 19.1 percent.