HTC nets $21 million profit in third quarter, beats estimates but sales down

For the third quarter, HTC has announced that it earned $21 million in profit on revenue of $1.37 billion. Although this is a huge improvement over the hundred million dollar loss they reported in the year-ago quarter, the company remains in a shaky financial situation. Most of the return to profitability is accounted for by a drastic cost-cutting policy rather than increases in device sales.

Sales actually fell 8% in September year-on-year, following a 33% fall in July and a 10% improvement in August. Apple and Samsung remain fierce competition for the Taiwanese company, despite good hardware advancements in the HTC One M8.

The company is holding an event on October 8th to announce a new product, somehow related to cameras. Last week, HTC teased that a new GoPro-esque waterproof video camera is on the cards. The device appears to be branded as the ‘RE’ camera. We will know more details in a few days.