Taiwan\\\'s HTC posts losses of $60mn

Taiwan's struggling smartphone maker HTC posted a net loss of Tw$1.88 billion ($62.3 million) in the first quarter, a figure far worse than the Tw$1.59 billion analysts forecast. Sales in the three months to March fell to a five-year low of Tw$33.1 billion. HTC confirmed its unaudited first quarter loss was Tw$1.88 billion, compared with a net profit of Tw$85 million a year earlier. Looking ahead, the company expected revenues to pick up from the second quarter due to the launch of the latest version of its flagship HTC One (M8) device and the mid-tier Desirer 816 targeting the Chinese mainland market, according to AFP.