HTC’s One M8 flagship phone received positive reviews, and it seems like consumers are starting to take notice. The company posted a net profit of NT$2.26 billion, or about $75.5 million, for the second quarter of 2014, thanks in part to sales of the new phone.
That’s an 80 percent increase from the same period last year, and a significant jump from its loss of NT$1.88 billion in the first quarter of this year. HTC’s quarterly revenue of NT$65.06 billion (roughly $2.18 billion) barely reached the low end of the company’s guidance.
The results are a mixed bag for the Taiwan-based electronics maker, which has its North American headquarters Bellevue. While it’s definitely seeing some returns form its current crop of smartphones, the company isn’t posting the sort of numbers that would show it’s in a position to compete with Samsung or Apple for the top spot in the smartphone market.
Still, it’s a glimmer of hope for HTC, and shows that the company can make money with a new flagship phone, after the HTC One received rave reviews but languished in the market. The company is pulling a lot of weight, considering that its marketing budget is only 20 percent of what Samsung spends on marketing its popular smartphones.