HTC year-on-year quarterly profit drops by 79 percent
updated 07:29 am EDT, Mon October 8, 2012
Strong Samsung releases likely cause of results
HTC has posted quarterly results that shows profit 79-percent lower than that of the same period last year. The results follow a trend that started last year and has continued ever since, with the likely cause being Samsung's Galaxy series of products dominating in areas where HTC one did, with no real sign of slowing down.
Total revenues for the third quarter reached $2.4 billion, lower than the second quarter's $3 billion, and far below the $4.5 billion for Q3 last year. The net profit of $133 million is a far cry from the $636 million earned last year, when the company saw a 68-percent rise in profits. Samsung, on the other hand, recently revealed an estimated quarterly profit of $7.3 billion, the company's fourth straight record-breaking quarter, ahead of its official quarterly report due on October 26th.
The lower than expected profits occur despite releases of handsets including the One S and One X. The recently revealed One X+ and Windows Phone 8 handsets may well change the company's fortunes for the next quarter, if the market welcomes the new smartphones. [via Slashgear]
