HTC’s net profit drops 25.5pc in the fourth quarter

6 Jan 2012

HTC’s net profit has decreased by 25.5pc, according to the mobile company’s unaudited financial results for the fourth quarter of 2011.

In a brief statement, HTC reported its net profit as NT$11.02bn, down from NT$14.80bn last year and NT$18.68bn in the previous quarter.

However, for the full year of 2011, net profit was up 57pc from 2010, reaching NT62.05bn.

Its unaudited revenue decreased by 2.49pc from the same quarter in 2010. Consolidated sales for December were NT$26.36bn, down 20.3pc year-on-year.

HTC has been experiencing record quarters over the past year, however, it revised its fourth-quarter revenue forecast by 23pc in November.

The mobile company attributed slower sales to the release of products from competitors such as Samsung and Apple. It said it will release more competitive products for 2012 to improve sales.