HTC Profit Down 83% For Q2
Posted: July 8, 2013 by Alex Chan
HTC is having a bad year. According to the company's latest report, they had a huge profit fall of 83% compared to last year's Q2. The profits for Q2 were well below the experts' expectations, only $41.63 million. This year, the company's revenues reached $2.35 billion, and the earnings per share remained still at NT$1.50 (New Taiwanese Dollars).
The Taiwanese smartphone maker did not have great success with their latest smartphones – HTC One and HTC First. The sales of the HTC First, the first Facebook Home smartphone, did not bring the rush in sales the company was hoping for. That left it up to HTC One to save the company. However, sales of the smartphone fluctuated on a monthly basis, taking a significant dive this June, down 23.88%.
The smartphone market is current in a very competitive position. With their biggest rival, Samsung, is planning on launching smartphones on a weekly basis. Without the same large revenue stream as Samsung, HTC has been struggling to keep up the pace. In an effort to boost sales, HTC is currently working on a new device, the HTC One Mini. This new smartphone will be direct competition to Samsung's Galaxy S4 Mini with its price and performances.