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HTC Reports Dismal 1Q Profits

Mon, 04/08/2013 - 9:59am
By Andrew Berg

HTC today posted preliminary financials for the first quarter of 2013 that show the effects of delays in the launch of its flagship HTC One smartphone. 

The company today said unaudited net profit was $2.85 million for the first quarter of 2013. That's compared to $33.2 million in the previous quarter, and $332 million in the same quarter last year. This quarter's results would be the worst since 2004. 

HTC's total revenues were down significantly as well. The company reported $14.2 billion in revenue. 

Perhaps the biggest reason HTC's dismal profits was continual delays in the HTC One, which was scheduled for global arrival in March. The new phone has only just recently become available from carriers here in the United States, with a ship date of April 19th. 

HTC's market share has been slipping here in the United States. Comscore recently reported the Taiwanese OEM dropped from 11 percent share in November to 9.3 percent in February. 

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