Mobile manufacturer HTC reportedly posted lower-than-expected income for the fourth quarter, despite aggressive cost cutting.
The Taiwanese company recorded a net income 10 million dollars for the quarter while analysts had been expecting an average net income of about 22 million dollars.
According to Cnet, the sale of its stake in Beats Electronics for 265 million dollars helped HTC avoid recording a second-consecutive quarterly loss.
HTC executives had said that the company planned to limit its operating expenses during the quarter to around 340 million dollars, 24 percent lower than what was spent the previous quarter.
The report added that the company suffered a recent dropoff in sales owing to supply issues that affected the flagship HTC One earlier last year and the One Max that failed to impress consumers.
