HTC profits plunge to lowest level since 2004

7 Jan 2013

The HTC One SV

Smartphone maker HTC’s net profit for the fourth quarter of 2012 plunged 91pc from a year ago, as its smartphone models continue to be outsold by Apple’s iPhone and Samsung’s Galaxy ranges.

HTC announced in a statement today that its fourth-quarter net income for the three months up to December 2012 was NT$1bn (€26m). According to a report on Bloomberg, this is the lowest income for the company since 2004.

HTC’s net profit is down more than 90pc on the NT$10.94bn recorded for the same period in 2011. Revenue for the fourth quarter amounted to NT$60bn.

According to analysts, HTC has suffered as a result of the lack of big product launches during the period.

In December, HTC began rolling out a new Android handset, a mid-range HTC One SV, in the EMEA region.

Analysis from market research firm IDC reported that HTC’s global smartphone market share dropped to 4pc in the third quarter of 2012, down from some 10pc a year earlier. This compared with Samsung’s 21pc market share and Apple’s 15pc share for the period.

Carmel Doyle was a long-time reporter with Silicon Republic