Profits fall 70% at HTC in "transitional" quarter

HTC posted its biggest drop in profit since listing a decade ago.

6th April, 2012
Profits fall 70% at HTC in "transitional" quarter
HTC “dropped the ball” on new products, management admitted.

HTC posted its biggest drop in profit since listing a decade ago.

Asia’s second-largest smartphone maker saw sales decline amid competition from Apple and Samsung. First-quarter net income was NT$4.46 billion (€116 million), the Taiwan-based company said in a statement. That was a 70 per cent drop since last year.

HTC “dropped the ball” on new products during the fourth quarter, chief financial officer Winston Yung said in February. That pushed inventories higher and...

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