Menu
HTC Q2 profit down 83 per cent

HTC Q2 profit down 83 per cent

HTC also reported a major decline in net profit during this year's first quarter earnings

HTC's second quarter net profit plummeted 83 per cent year-on-year as sales of the company's latest flagship handset failed to meet expectations.

The company reported net profit of NT$1.25 billion ($US41.6 million), down from NT$7.4 billion a year earlier. Revenue totalled NT$70.7 billion, down 22 per cent.

Results for the quarter should have been boosted by sales of the new HTC One smartphone. It went on sale in April, although the company had originally hoped to launch it at the end of March. The delay put the HTC One in closer competition with Samsung Electronics' Galaxy S4 smartphone, which went on to reach sales of 10 million units within a month of its launch in late April.

Heated competition with Samsung and Apple is a major reason for HTC's financial woes, analysts say. To revive its smartphone business, HTC in 2012 launched its new "One" series to help create more brand visibility. The company is also expanding in mainland China, now the world's largest smartphone market, and is spending more efforts on marketing.

Last month in Taiwan, HTC also launched a new 5-inch smartphone, called the Butterfly s, that could end up other markets later this year.

There was one small silver lining for HTC: Profit was slightly up, quarter on quarter, from the record low of NT$85 million that HTC reported in the first quarter.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issueshtcfinancial results

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments