Printed from http://www.electronista.com

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 :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Apple 12-inch Retina MacBook

It is an exciting time for consumer technology, with gadgets and devices that once used to the stuff of dreams now coming to fruition. ...

JBL Synchros Reflect in-ear headphones

All headphones are not created equally, especially when it comes to use during vigorous activities or workouts. Over-the-ear headphone ...

Linksys WRT1200AC Wi-Fi Router

Once upon a time, a brand-new Linksys router showed up on our doorstep. So we gathered some network-minded friends together, and hooke ...

Advertisement

toggle

Most Commented

 
toggle

Popular News