According to HTC's figures, the company brought in 68 billion TWD (US$2.3 billion) in revenue in Q1, a 35 percent drop from the 104 billion TWD it earned in Q1 2011. Profits were a mere 4.5 billion TWD ($152 million), down from 14.8 billion TWD that it saw a year prior.
This past quarter, HTC launched the One series of smartphones, which it hopes will turn its fortunes around this year. The One X and One S have already hit shelves in Europe, and are due to land in the U.S. in the near future. The company has also promised to streamline its offerings in 2012, and release fewer devices than it has in previous years.
