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As Samsung's profits rise, HTC's profits disappear

News by Andrew Kameka on Friday October 04, 2013.

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On the day that Samsung posted early estimates for its billions of dollars in profits related to its smartphones, HTC, the company that it unseated as the leading Android manufacturer, reported quarterly loses for the first time in the company's history. Samsung has reported an estimated profit of 10.1 trillion won (US $9.42 billion) in the third quarter, thanks in large part to the company's strong sales of the Galaxy S 4 and several midrange devices sold in Europe and Asia. Samsung reported a record quarter with profit up from the 8.1 trillion during the same period in 2012.

HTC also had a record quarter, though the milestone was for negative reasons. HTC reported a loss of NT $2.97 billion (US $101.2 million) in the third quarter. It was the first time that HTC reported a loss since the company went public in 2000 and continued a run of declining profits despite efforts to increase sales with a focused device strategy. HTC anticipated better sales from the HTC One but the device has failed to catch-on in the shadow of the Samsung Galaxy S 4, despite glowing reviews.

via: Bloomberg

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Andrew Kameka
Andrew is based in Miami, Florida.

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