Q3 HTC Results Show 79 Percent Crash In Profits
HTC results show 79 percent drop in profits from last year
Profits at Taiwanese smartphone manufacturer HTC have fallen by 79 percent year-on-year during the third quarter of 2012 as the company struggles keep up with rivals Apple and Samsung.
HTC profits for the period between July and September fell from T$18.68 billion (£397m) during the same period last year to T$3.9billion (£83.1m), missing analyst forecasts of T$5.57 billion. The figures are also down from the T$7.4 billion (£11.9m) it recorded in the previous quarter.
Third quarter revenues decreased from around T$91 billion (£1.9bn) last quarter to T$70.2 billion (£1.5bn).
HTC Results Slump
The results will be a blow to the fifth largest smartphone manufacturer in the world, which has established its own brand after previously making handsets for other companies.
HTC has recently announced the launch of a number of new smartphones in an effort compete with the likes of the Apple iPhone 5 and the Samsung Galaxy S III.
Last week it announced the HTC One X+, a “refreshed version” of its well-received HTC One X flagship smartphone. The new device will be released in October and promises a longer battery life, increased performance and a range of other improvements. It will also have a 1.7GHz quad-core NVIDIA Tegra3 processor which will make it up to 67 percent faster than its predecessor.
HTC has also unveiled two new smartphones running Microsoft’s Windows Phone 8 operating system, the HTC 8X and the lower-end HTC 8S. They will compete against other devices on the platform such as the Nokia Lumia 920.
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