Monday, October 8, 2012

HTC continues skid; profits fall 79 percent in Q3 ... - Know Your Cell












HTC on Monday announced earnings for the fiscal Q3 and as expected, they weren't pretty: The company turned a net profit of $133.2 million on total revenues of $2.4 billion. That's down massively from the $636.5 million net profit in last year's Q3.

While the decline isn't good news for HTC, the company still turned a modest profit. Overall, though, revenue is down over $2 billion from Q3 last year. Smartphone shipments are also in the decline.

HTC released a number of high profile smartphones this year, including the HTC One X and HTC One S. Neither smartphone, however, has helped it gain back what it lost -- mindshare. Samsung and Apple smartphones continue to be favored by consumers and the company's profits prove it.

The Q3 results really reflect the insane reality that HTC faces in a mobile world seemingly dominated by competitors. No amount of speeches or demos can change that. It's going to take millions of marketing dollars and a lot of work to get HTC back to a healthy place.

All in all, with the iPhone 5 having just launched in the U.S., things might get even tougher for HTC. We'll know more later this year.

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Source: http://www.knowyourcell.com/news/1624141/htc_continues_skid_profits_fall_79_percent_in_q3.html

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