HTC back on track

damsel-in-distress-4HTC has said that it is back on track and will not have to go to the markets to ask to lend a tenner until next Friday.

Taiwanese smartphone maker’s chief financial officer Chialin Chang told Reuters that the outfit had a  lack of debt, $1.7 billion in cash and the ability to fund itself.

Chang said in an interview that HTC can self-fund itself very sufficiently.

The company last week reported better-than-forecast third-quarter profit, but mainly thanks to cost cuts rather than improved sales.

Chang said the company now had a strong portfolio of phones at prices that will attract buyers in both developed markets and emerging ones.

“I think with a more robust portfolio we’re going to be able to show that we can grow again,” he said. “Hopefully people will feel in the next earnings call with the guidance, we can get the momentum back.”

Chang said that his company was working on other “smart devices” which means it is probably coming up with a watch like everyone else in the industry.

Meanwhile the outfit has created a “Re” camera, which can be controlled remotely from an Android or Apple phone, represents one effort to branch out beyond phones. Given that the cylinder-shaped device is waterproof and is highly portable, it could be seen as a potential competitor to GoPro Inc (GPRO.O) cameras.

Chang said that was the wrong comparison since GoPro cameras are specifically aimed at “extreme” sports while the Re, which will sell for $199 in the United States, is aimed at everyday use.