HTC's Q3 revenue declines 48%

Mobile & tablets

by CBR Staff Writer| 09 October 2012

Profit slumped 79% during the quarter

Taiwanese smartphone manufacturer HTC has reported 48% decline in revenues to T$70.2bn($2.4bn) during the third quarter (Q3) of 2012, amid stiff competition from rival smartphone makers Samsung and Apple.

HTC reported 79% slump in profits for the quarter to T$3.9bn (132.4m)when compared to T$18.68bnm($634.3) reported during the same period in 2011.

Taiwanese smartphone manufacturer's decline in profit is in contrast with Samsung, which has estimate record profits for the samequarter due to high sales of its Galaxy smartphones.

HTC, in a bid to secure its position in the market, has also released new phone models, including two Windows Phone 8 handsets.

During the quarter, HTC was also required to shut its South Korean business in a bid to streamline its operations, and has also been attempting to shorten its smartphone range.

HTC reported 5.8% decline in its smartphone shipments during the second quarter when compared to 10.7% reported a year earlier, according to reports.

Comments
Post a comment

Comments may be moderated for spam, obscenities or defamation.
Privcy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.