4/6/2009 10:57:00 AM
HTC profits slide 30% in the first quarter
HTC has reported a 30% fall in profits to $147m (£98.6m), as the economy slowed further and shipments were delayed. The smartphone manufacturer reported its results for the three months ended 31 March today (6 April).
HTC, which is the world’s fourth largest smartphone manufacturer, had a market share of 4.5% of the total smartphone market in 2008, ranking behind bigger rivals Nokia, RIM and Apple, according to Gartner.
It reported first-quarter revenue of T$31.6 billion, a 3.4% drop from the T$32.7 billion posted a year ago, and blamed the decline on a delay in new product shipments to the second quarter.
However, the company said its sales grew 12% in March, after falling 10% in the first two months of the year. It maintained its previous forecast of double-digit revenue growth in 2009.