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HTC's troubles continue as company profits drop 79 percent


News by Andrew Kameka on Monday October 08, 2012.

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HTC released its unaudited third quarter earnings today, and the company's run of declining profits continued. HTC reported that it made a profit of $3.9 billion Taiwanese dollars ($133.17 million USD), down from $18.68 billion ($637.92 million USD) reported during the same period last year. The 79 percent drop in profits shows that despite releasing phones like the HTC One X that are praised by critics, HTC struggles to connect with consumers. The Taiwanese manufacturer hoped that its One series would kickstart a rally that would return the company to its place as the leading Android manufacturer, but sales have fallen short of expectations. It recently announced the One X+ and One VX, updated versions of phones released earlier this year.

Samsung continues to dominate the Android market with its Galaxy series of phone, which HTC has so far been unable to outpace. HTC has a chance to increase sales by releasing Windows Phone 8 products, but it will also compete with Samsung and Nokia on that platform. Windows Phone has failed to garner large sales, so HTC may not have much room for growth unless its upcoming Windows Phone 8X and Windows Phone 8S, developed in partnership with Microsoft, prove to be at least a moderate success.

source: HTC

 
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Andrew Kameka
Andrew is based in Miami, Florida.

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