HTC’s profits plummet 57pc – blames poor sales in Europe and US
The HTC One X
Disappointing sales in Europe and the US have led to a massive 57.8pc fall in HTC’s quarterly net profit, the company admitted in unaudited consolidated results for the second quarter of 2012.
The company revealed this morning that net profit was down 57.8pc to US$247.7m (NT$7.4bn) compared with NT$17.52bn a year earlier. Second-quarter revenue was NT$91bn.
Unaudited operating income was NT$8.2bn and net income before tax was NT$8.9bn.
In what should or could have been a stellar year for HTC with devices like the One X in the market, things are going rather roughly and sales in Europe are disappointing while the Taiwanese electronics manufacturer blames customs hold-ups in the US for poor performance in North America.
The results contrast harshly with the rude health of Samsung, which over a month ago launched its flagship Galaxy S III and is hurtling towards 10m sales by the end of this month.
This morning, Samsung reported it's heading towards an operating profit of US$5.9bn (6.7trn won) and revenues in the region of US$41.4bn (47trn won), largely due to the success of the Galaxy S III smartphone.