Exclusive Deal While supplies last, save 40% off over 40 iPhone 5 and iPhone 4/4S cases and chargers as well as Samsung S III cases at Kensington.com. Use coupon code 'SAVE40%' at checkout to receive this exclusive discount.      

HTC profits in freefall; Samsung, Apple dominance to blame

updated 10:08 pm EST, Mon January 7, 2013

 

Quarterly profits one tenth of year-over-year results


Taiwan smartphone manufacturer HTC Corporation's quarterly profits for the fourth quarter of 2012 missed its expected target, and plummeted 91 percent from the same quarter a year ago. The manufacturer is suffering from continued strong iPhone releases, and pressure from a large range of Samsung Android-powered phones occupying the same market segment that HTC does.

Profit from October through December was T$1 billion ($34.5 million), down from T$11 billion ($344.8 million) in the same time frame from 2011. HTC did not further break down or explain the results. Analysts expected a net profit of T$1.47 billion ($50.7 million) on the quarter.

HTC is rumored to be preparing a new flagship phone in the first quarter of 2013, which may buoy the company's profits -- at least temporarily. "The new phone could have a first-mover advantage for one to two months before Samsung launches its Galaxy S4 in April, but in the long run, it's difficult to beat Samsung's phones," said Daiwa Capital Markets analyst Birdy Lu.

The Taiwanese stock market closed before the results were released. The stock has fallen over four percent in after-hours trading since the announcement.


By Electronista Staff

Post tools:

TAGS :  

industry, htc, mobile phones
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

 
close
Photo
toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

MaxUpgrades MaxConnect for 2006-2008 Mac Pro

Nobody outside of Cupertino's privileged bunch knows the future of the Mac Pro line for sure. Despite Apple's reluctance to tell us wh ...

Brother HL-3170CDW LED Printer

We've mentioned before that we are far from a paperless society. For now, at least, there are tasks that require a piece of paper for ...

HTC One

It is hard to overstate just how critically important the HTC One is to the Taiwanese company’s fortunes. Despite its alarming decline ...

Sponsor

 
toggle

Popular News