1/7/2013 10:34:39 AM
HTC posts lowest profits since 2004
HTC has posted its lowest profits since 2004, with its NT$1bn net income (£21.2m) down 91% on 2012.
The Taiwanese manufacturer had warned of a difficult start to the year, after its CEO Peter Chou told the Wall Street Journal it had not done enough to market its devices. But he added: 'The worst for HTC has probably passed. 2013 will not be too bad. Our competitors were too strong and very resourceful, pouring in lots of money into marketing.'
For its fourth quarter, the three months to 31 December, sales at the phone maker also fell 41% to NT$60bn (£1.27bn), its lowest level for 11 quarters. HTC has been seen as failing to capitalise on its early dominance of the Android smartphone market and was comprehensively outspent by Samsung last year as its Korean rival became the world's biggest phone maker. By contrast, HTC's share fell from 9% to 5% during 2012.
Author: Graeme Neill