HTC reports 30 percent drop in profit in first quarter 2009

HTC has reported a 30 percent drop in profit in the first quarter of 2009 from the same quarter last year. The company's net profit dropped to NT$4.89 billion (US$148 million) from NT$6.95 billion (US$210 million).

The company reported total revenue of NT$31.59 billion (US$954 million) in the first quarter from NT$32.70 billion (US$988 million) from the same period last year, a 3.5 percent loss.

HTC said that the shortfall is attributed to a delayof new product shipments. It still hopes to gain double digit growth this year.