HTC Profits Down 83% from Last Year

HTC Profits Down 83% from Last Year

HTC has announced its results for the second quarter, and they could certainly be better. Despite the release of the well-received HTC One flagship smartphone, the company saw its profit plunge 83% from last year.

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The Verge

 …the company made just NT$1.25 billion (roughly $41 million) after tax from NT$70.7 billion ($2.35 billion) revenue. In the same quarter last year, the company took in revenue of NT$91.04 billion ($3 billion) and made NT$7.40 billion ($246 million) profit.

Analysts were hoping for a better performance from the company, looking for profits in the $70 million neighborhood, especially after HTC announced the new HTC One had seen sales of around 5 million in just 50 days. However, June saw wide availability of Samsung’s new flagship phone, the Galaxy S4, and HTC’s revenue took a big hit, down around 24% from the previous month, and down 26% from June 2012.

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