HTC suffers 79% crash in quarterly profits
World s fifth biggest phone maker is squeezed by larger rivals Apple and Samsung
Juliette Garside and Charles Arthur
guardian.co.uk, Tuesday 9 October 2012 12.50 EDT
HTC 宏達國際電子股份有限公司, the world s fifth biggest phone maker, has suffered a 79% crash in quarterly profits as the popularity and marketing muscle of Apple and Samsung continue to squeeze out smaller rivals.
Third quarter net income plummeted to 4.9bn New Taiwan dollars (£104m) in the three months to the end of September, from NT$20bn in the same period last year, according to unaudited results published on Monday night. Revenues were down 48% to NT$70.2bn, well below analyst expectations of NT$75bn.
Only a year ago the Taiwanese company was enjoying a record quarter with revenues of NT$136bn, thanks to bestselling handsets including the HTC Desire and Sensation.