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HTC reports its worst quarter since 2004 as profits drop more than 90 percent

Newsbrief by Andrew Kameka on Monday January 07, 2013.

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HTC reported it earned only NT$1 billion (US $34.48 million) in the fourth quarter of 2012, a jarring decline from the $375.86 million earned during the same period in 2011. Bloomberg notes that the most recent quarter was HTC's worst financial quarter since 2004. The Taiwanese smartphone manufacturer has struggled to introduce popular smartphones that can compete with Apple and Samsung, and the success of its rivals caused HTC's market share to drop significantly in 2012. CEO Peter Chou says he believes the worst is over for the company, and he anticipates a rebound in 2013.

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